PFS response to FCA ban on mass-marketing of speculative illiquid securities
Publication date:
10 December 2020
Last updated:
25 February 2025
Author(s):
Personal Finance Society
In response to the FCA permanently banning the mass-marketing of speculative illiquid securities, Keith Richards, chief executive of the Personal Finance Society, said: “It is great to see the regulator take action to protect consumers. This permanent ban being extended makes sense as these products were being mass marketed when mini-bonds and similar listed securities aren't suitable for most retail investors.
"Some of these mini-bonds and securities were being marketed as offering returns of 6.5% to 8% a year. We would all urge anyone being offered returns that seem too good to be true to be aware that they probably are and to seek financial advice as to whether an investment is suitable for them."
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.
