Treasury updates on mini-bond review

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.