FCA to make mini-bond marketing ban permanent

The Financial Conduct Authority (FCA) today announced proposals to make permanent its ban on the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors. The FCA introduced the ban without consultation in January following concerns that speculative mini-bonds were being promoted to retail investors who neither understood the risks involved, nor could afford the potential financial losses. In introducing the rules permanently, the FCA is proposing a small number of changes and clarifications to the ban introduced in January. This include...