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Britain proposes to regulate 'mini-bond' at heart of collapsed LCF fund

Reuters
FILE PHOTO: Rishi Sunak hosts a press conference in Downing Street

LONDON (Reuters) - Britain's finance ministry on Monday said it proposes to regulate the issuance of mini-bonds like those sold by the now-defunct investment fund London Capital & Finance.

LCF's collapse left investors facing losses on the unregulated mini-bonds they had bought.

"The government is consulting on proposals to bring the issuance of non-transferable debt securities - ‘mini-bonds’ - within the scope of financial services regulation," the finance ministry said in a statement.

(Reporting by Huw Jones; Editing by Kevin Liffey)