The High Court has wound up seven companies run from an office in Mayfair after an investigation found that their marketing of high-risk mini-bonds was misleading.

London Capital & Finance (LCF) investors have hired a legal firm to bring a formal complaint against the Financial Conduct Authority.

The Treasury Committee has called for a change in culture at the Financial Conduct Authority (FCA) in order to protect consumers and financial markets in its report into the regulator’s handing of London Capital and Finance (LCF).

If there is one positive from the London Capital & Finance fiasco it is that the whole sorry business has prompted government and regulatory action to stop a repeat of LCF.