Level of risk ISTC bond clearly unidentified, I have been watching this story unfold, from news in Sunday Times. I know someone who's lost a lot of money. A few weeks ago Brokers were said to have refunded invetsors who lost in cases where product deemed unsuitable. The ISTC is an unregulated financial institution, seems brokers did not do their homework?
However bottom line, ultimate responsibility lies with Friends First. This bond was given Trustee Status, which means, it was not high risk, so for people or institutions, needing this guarantee, they were duped,
In the case of the OP, check all the small print very carefully. Seems v. strange that you not aware they invested your money in ISTC bonds on your behalf?