UK News promotes ‘junk bond,’ say industry experts

@peter_IFAMAG reads Twitter so you don’t have to.

Equity crowdfunding platforms Crowdcube and Seedrs to merge – though historical differences behind the scenes may lead to a bumpy consolidation. The Daily Mail publishes a promotional article covering a ‘flower bond’ that is getting skewered by financial advisers as a ‘junk bond.’

The Daily Mail promotes ‘Flower Bond’ leading Darren Cooke to ask, ‘What hope do we have?’

What hope do we have?

Will the Mail apologise and pay all their reader compensation if this (when) all blows up and people lose their money? https://t.co/UaMcoO9A8v

— Darren Cooke (@RedCircleFP) October 5, 2020

Sky News also promoted the scheme.

https://twitter.com/CDML/status/1313055360895397888

Simon Harrington points out a red flag; being the firm that authorised the scheme.

Look at the firm that authorised it too…

Its why we think the approval of these promotions should be a regulated activity

— Simon Harrington (@PensionWonk) October 5, 2020

Crowdcube and Seedrs announce a merger.

Big news! I'm very excited to announce that @Crowdcube is merging with @Seedrs. The move will create one of the world's largest private equity marketplaces so we can help 1000s more ambitious businesses raise investment from people who believe in them 🙂 https://t.co/cAbm4Qeplk

— Luke Lang (@lukelang) October 5, 2020

James Hurley shares insight into the history of bad blood between the two equity crowdfunding platforms.

As rumoured, equity crowdfunding platforms Crowdcube and Seedrs to merge. Interesting one as historically been bad blood between the two, and their approaches to crowdfunding are quite different. Whether merged entity can be viable remains to be seen (both are loss making)

— James Hurley (@jameshurley) October 5, 2020

And finally, LGIM announces they will only trade with FTSE 100 companies that have diverse boards.

Legal & General has warned FTSE-100 companies with all-white boards it will vote against them unless they hire an ethnic minority director in the next 15 months, according to The Times. I'm following the story up for BBC News Online this morning and looking for expert views…

— simon read (@simonnread) October 5, 2020

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