London Capital and Finance

masonic

Likewise, I'm just getting "What's popular right now"

The best way to link to imgur is to open your image, right click on it and "Copy image address".

Supercalafragalistic

Hi both. Tried and no joy. If you search either supercalafragalistic1 or fscs2018 you should see it. I will keep trying now

masonic

No joy finding it using either search term. Perhaps you could describe exactly what is stated (I've already seen a letter from FSCS stating something generic, but nothing where the bonds have specifically been mentioned as being covered).

Supercalafragalistic

Ok, try this then i will type it out if not..

https://m.imgur.com/NqCve7M

Supercalafragalistic

It basically says this (with dates n names etc)
I recently invested £6000 in london capital and finance plc. Please confirm that I am covered by the fscs up to £50000.

Reply
Thank you for your recent email london capital and finance are authorised by the financial conduct authority and therefore covered by the fscs up to the compensation limit of £50,000.

masonic

Supercalafragalistic wrote: »

It basically says this (with dates n names etc)
I recently invested £6000 in london capital and finance plc. Please confirm that I am covered by the fscs up to £50000.

Reply
Thank you for your recent email london capital and finance are authorised by the financial conduct authority and therefore covered by the fscs up to the compensation limit of £50,000.

Your image link worked this time.

Nothing in that email is untrue. However, while LCF are covered by the FSCS up to £50k, this cover applies only to qualifying investments. Mini-bonds issued by LCF are not qualifying investments. Even if they were (for example if you invested in a fund that held LCF bonds as its only investment), there is no cover for investment loss when those bonds became worthless.

Rather like Hargreaves Lansdown is covered by the FSCS, but if I bought some HL shares or bonds, I wouldn't be covered if HL went bust.

AnotherJoe

Supercalafragalistic wrote: »

It basically says this (with dates n names etc)
I recently invested £6000 in london capital and finance plc. Please confirm that I am covered by the fscs up to £50000.

Reply
Thank you for your recent email london capital and finance are authorised by the financial conduct authority and therefore covered by the fscs up to the compensation limit of £50,000.

Someone already posted this a few posts back, the issue with the reply (as said up thread) is twofold.
1. The person is asking after they bought. So they can't claim that FCA answer induced them to buy so no compo.
2. The answer is grammatically correct but misleading.it is IMHO an appalling answer and shows what a veritable shambles FCA are

masonic

AnotherJoe wrote: »

Someone already posted this a few posts back, the issue with the reply (as said up thread) is twofold.
1. The person is asking after they bought. So they can't claim that FCA answer induced them to buy so no compo.
2. The answer is grammatically correct but misleading.it is IMHO an appalling answer and shows what a veritable shambles FCA are

The email was from enquiries@fscs.org.uk, so it is from the FSCS not the FCA. The FCA has always stated these bonds were not eligible for FSCS cover.

Supercalafragalistic

To me, because it is actually formulated as a response, it looks to a casual bystander that they are covered. The question was ‘please confirm that i am covered’ ...and the answer, although not specific to the question, is affirmative.

Ps it looks like lcf will be covered on ‘rip off britain ‘ this wed at 9am.

Supercalafragalistic

Howsabout this... does this say/mean anything that we dont know?
https://fscs2018.imgur.com/all/