But FCA policy chief also warns those on mortgage holidays that they will see their credit profiles adversely affected in the future.

Both Crowdcube and Seedrs were used by investors to back the hybrid agency along with many other well-known proptech and online firms.

The FCA, which brought the case, says businesses that have struggled to move forward Covid claims with their insurer now have greater clarity.

The PCAs required by agents to comply with CMP regulations have proved difficult to open because they have been deemed to be higher risk.

Two companies facing High Court proceeding and freezing orders were reported by TPO to Trading Standards at the start of lockdown, The Neg can reveal.

The Financial Conduct Authority believes that in a small minority of cases insurers should have paid out and wants clauses examined.

Up to 800,000 borrowers missing out due to a lack of time and a fear of the application process, says FCA.

Shock announcement by Financial Conduct Authority today follows complaints over opaque and complex nature of mini bonds.