Treasury has written to Nicky Morgan updating on the progress of its review into the failure of London and Capital Finance and the government and FCA review of mini-bonds. Alongside the FCA review into the circumstances surrounding the collapse, Treasury is looking at wider policy questions, specifically:
- a review of the UK policy on non-transferable debt securities – looking at issuance and the effects of the financial promotion regime; and
- how the IFISA tax rules are working.
Treasury hopes the work, and its assessment will be complete by early 2020.