Blackmore Bonds has been placed into administration months after returns were delayed and left unpaid.
Blackmore Bonds provided mini-bonds intended to be invested in property development. These types of bonds are defined by the Financial Conduct Authority (‘FCA’) as ‘speculative mini-bonds’, which were banned from being promoted to ‘retail’ investors since 1 January 2020.
This type of investment is high risk and illiquid. Also, they generally do not fall under the protection of the FCA meaning consumers are unable to recover compensation through the Financial Ombudsman Service or Financial Services Compensation Scheme.
You may be able to recover compensation if you invested in Blackmore Bonds on the advice of a regulated financial adviser or if you made the investment through your pension.
