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<p>London Capital and Finance plc (LCF) are a firm that issued mini-bonds, that entered
administration on 30 January 2018. On 23 May, the Treasury formally directed the Financial
Conduct Authority (FCA) to launch an independent investigation into the events at
LCF, and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it.</p><p>
</p><p>Lendy Limited and Collateral (UK) Limited are peer to peer (P2P) platforms
authorised by the FCA and subject to FCA rules.</p><p> </p><p>The operationally independent
FCA’s investigation into the circumstances that led to the administration of Lendy
is ongoing, and it would be inappropriate for Government to pre-empt its findings,
or that of the investigation of the events at LCF.</p>
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