FCA says it needs help with its investigation into London Capital & Finance

Maria Nikolova

The UK regulator asks those affected by the demise of LCF to keep safe any paperwork, including letters, emails and any financial records relating to their investment with LCF.

The UK Financial Conduct Authority (FCA) has earlier today urged the public to help it with its investigation into London Capital & Finance. A similar announcement was made by the Serious Fraud Office (SFO).

The UK authorities ask those affected by the demise of LCF:

  • To keep safe any paperwork, including letters, emails and any financial records they have relating to their investment with LCF.
  • Not to share this information with other investors or publish it on online platforms.
  • To complete these online questionnaires if you have not done so already:
  • The SFO online questionnaire.
  • Smith and Williamson LLP, LCF’s administrators website and questionnaire.
  • The Financial Services Compensation Scheme questionnaire.

In the month since FSCS’s fact-finding questionnaire went live just over 5,500 people have completed it. The Scheme says it is analysing the information provided and it is already helping its ongoing investigation into the nature and extent of any protected claims. FSCS would like to encourage other investors to complete the form and remind them that this will in no way prejudice any future claim they may have with FSCS.

Since the preceding update, FSCS has also had a cooperative meeting with representatives from Surge Financial Ltd. They have agreed to provide further information that will help the Scheme’s investigation and the body looks forward to receiving that soon.

Customers are reminded that coming to FSCS directly will mean they get 100% of the compensation that they are owed, up to FSCS’s limit of £85,000, as the Scheme is a free service.

Dame Elizabeth Gloster, who leads the independent investigation into the circumstances surrounding the failure of LCF, has also urged the public to provide information.

Individuals impacted by the failure of LC&F will be able to send any relevant information via email. The email address is [email protected] and will only be accessed by Dame Elizabeth and her independent team.

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