Herts-based crowd-funding platform Business Agent Ltd, trading as NextCrowd and NextFin (FRN: 669880), has been declared in default by the Financial Services Compensation Scheme.

A financial adviser and ISA provider has gone into administration a few days after the FSCS launched an investigation into the firm.

The FCA has halted ISA business at crowd-funding platform Nextcrowd over concerns about potential “serious regulatory breaches.”