London Capital & Finance PLC

London Capital & Finance plc (LCF) went into administration on 30 January 2019 and FSCS declared it had failed on 9 January 2020. 

Since LCF entered administration, the FSCS carried out an extensive and complex investigation into how LCF operated. It's aim was to determine if any of the activities LCF carried out were regulated, as this is the only way its customers could be eligible for FSCS compensation.

The FSCS said it worked as "quickly as possible because we know LCF’s failure has had dire consequences for its customers", but the FSCS said that "whether or not a ‘regulated activity’ took place took time to find out as it depends on the exact legal and factual circumstances."

There are many different regulated activities, and different exclusions and exceptions can apply to each. The investigation involved significant factual analysis, external legal advice and collecting evidence, such as calls and emails, to determine if investors could be eligible to claim compensation.

If you’ve moved your pension out of your workplace scheme after advice from a pension company or independent financial adviser your pension may be at risk.

Many people invested into a self-invested personal pension (SIPP) with the promise of guaranteed high returns.

But SIPPs can be high risk and the risks associated are sometimes not made obvious to investors.

Lots of SIPPs have been mis-sold by advisers who didn’t have people’s best interests at heart.

If you think you may have been miss-sold an suitable pension you can give us a call 0333 050 8792 to discuss.