London Capital & Finance plc (LCF) was a financial services firm based in the United Kingdom that issued and marketed high-risk, unregulated fixed-rate "mini-bonds". The company aggressively marketed these products, promising attractive returns of up to 8% to retail investors, many of whom were elderly or first-time investors. In December 2018, the Financial Conduct Authority (FCA) ordered LCF to cease its marketing activities and froze its assets due to misleading promotions. The company subsequently collapsed into administration in January 2019, owing over £237 million to more than 11,000 investors. The collapse became a major scandal, exposing significant regulatory failures and leading to a government investigation and compensation scheme for bondholders.

Founded in

United States