The FCA is to implement a package of reforms after accepting the findings of the long-awaited Gloster Report that it failed to adequately protect the 11,625 investors who lost money due to the £236m collapse of mini-bond provider London Capital & Finance.

The Financial Services Compensation Scheme has increased the speed it is settling LCF claims and has so far paid out £13.5m to 844 people hit by the collapse of the mini-bond firm.

The Financial Reporting Council, the regulator of auditors, accountants and actuaries, has launched investigations into three audit firms over their audits of collapsed mini-bond firm London Capital & Finance plc (LCF).

The Financial Services Compensation Scheme has warned that it will reject many claims relating to the failed £236m mini-bond firm London Capital & Finance (LCF).