The chair of the FCA has promised to act upon the independent review of how the regulator handled the collapse of London Capital and Finance.

The Financial Services Compensation Scheme has paid out just over £20m in compensation to LCF customers, close to a 50% increase since last month.

The FCA has decided to permanently ban the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors.

Mini-bond firm Blackmore Bonds has collapsed this week owing £45m to investors in a move that echoes the recent failure of £236m mini-bond firm London Capital & Finance.