24
Acknowledged
The unusual way in which LCF used mini-bonds and the high level of risk associated...
Conclusion
The unusual way in which LCF used mini-bonds and the high level of risk associated with any such investments highlight the need for the Treasury’s intervention. We welcome the Treasury’s ongoing consultation on the regulation of non-transferable debt securities but note the delay in its launch.
Government Response Summary
The Treasury confirmed that its consultation on non-transferable debt securities (NTDS) has closed and it aims to publish its response and introduce legislation in the autumn.
Paragraph Reference
138
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
The Treasury’s consultation on the regulation of non-transferable debt securities (NTDS) closed on 21 July 2021. As the Committee’s report alludes to, this consultation is the culmination of a review into the regulation of mini-bonds that the Government announced in May 2019 and delivers on one of the recommendations made in Dame Elizabeth Gloster’s report. The Treasury is aiming to publish its response to the consultation and bring forward plans for legislation in the autumn.
Source
Committee
Treasury Committee
Report
Fourth Report - The Financial Conduct Authority’s Regulation of London Capital & Finance plc
24 Jun 2021
HC 149
Addressee Bodies
HM Treasury
Timeline
Recommendation age
5.1 yrs
Report published
24 Jun 2021