Interest rates have been super low now for more than a decade and if you've got money in the bank it can be really frustrating to be earning so little interest.

That's why it's easy to be tempted by adverts offering really high interest rates.

But as the recent collapse of London Capital and Finance shows,

those promises can be empty.

Welcome to another five minute Friday. Thank you so much for joining me. So

great to see you all. I think it's important to address events like the

collapse of London Capital and Finance so that we can learn lessons when things go really badly wrong.

So let's talk about this today and put five minutes on the clock down here.

Say a quick thank you to my good friends at 7 Investment Management for continuing to sponsor meaningful money and let's

crack on. You know there are so many things wrong with the promises made by London

capital and finance henceforth to be named LC and F for the duration of this video. So much wrong there, but it's easy to be

wise in hindsight and it's important that there's no judgment here. Anybody can be caught out.

So I want to take a few points from this whole mess and draw some

lessons from it so that we can be wise and protected hopefully so that there isn't a

next time. So the first point is that LC and F were offering an investment that was unregulated.

Now it was hard to tell that because LC and F themselves were a regulated company.

But they were regulated for some other stuff, not for selling these bonds and

ISAs that they were advertising.

So that's confusing, right?

The products that were being sold were not regulated.

LCNF themselves were regulated, but not for the sort of stuff that they were doing

here.

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