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8 June 2020 | Comment | Article by Neil Stockdale

Blackmore Bonds: Another Mini-Bond Provider in Administration

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.

The Financial Mis-selling team can advise you on the routes of redress available to you and assist you with a claim on a ‘no win, no fee’ basis. Contact us now for a free, no obligation discussion.

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Author bio

Neil is an elected partner on the firm’s board of management. He is also head of the firm’s financial mis-selling team, specialising in handling claims for financial mis-selling relating to pension mis-selling, timeshare purchase, annuities, mortgages and insurance.

Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.

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