Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville/File Photo Acquire Licensing RightsCompanies Neo London Capital AD FollowLONDON, Oct 11 (Reuters) - Britain's Financial Conduct Authority (FCA) said on Wednesday it had censured London Capital & Finance (LCF) for "unfair and misleading" promotions of minibonds, but there is no financial penalty as the firm is insolvent. LCF, which was licensed by the FCA, "may have knowingly participated in the defrauding" of bondholders, the watchdog said. "The FCA does not consider it appropriate to impose a financial penalty on the firm as it is insolvent and in administration. In 2020, the watchdog banned the mass-marketing of speculative illiquid securities, including speculative minibonds, to retail investors.

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Persons: Toby Melville, Therese Chambers, Elizabeth Gloster, Huw Jones, Alison Williams, Mark Potter Organizations: FCA, Financial, Authority, REUTERS, Neo, London Capital & Finance, Thomson Locations: London, Britain, Neo London, LCF