UCIS
FCA bans six for UK property scheme scam
Six of the eight men found guilty last year of a UK property fund scam, which defrauded investors of around £4.3m ($5.24m, €4.78m), have been banned by the Financial Conduct Authority (FCA) from performing any function in relation to any regulated activity in the industry.
AILO slates claim int’l life companies complicit in UCIS sales
The Association of International Life Offices (AILO) has criticised a claim that life companies are complicit in the distribution of unregulated investment schemes.
Tax & Regulation | 15 Oct 15
Sale of unregulated schemes now ‘pandemic’ in expat markets
Unregulated collective investment schemes are increasingly being sold to retail investors in some expat markets since the FCA banned their sale in the UK last year, an advice firm has warned.
Tax & Regulation | 10 Sep 15
FSCS reviews ‘complex’ claims against financial advisers
Claims brought against financial advisers who gave tax advice on “complex” investments such as film partnerships are to be reviewed by the UK’s Financial Services Compensation Scheme.
Investment | 23 Jun 15
FOS warns of jump in inquiries over UCIS advice
UK customers invested in unregulated collective investment schemes (UCIS) are increasingly questioning the advice they were given after being alerted by a new rule change, the Financial Ombudsman Service (FOS) has warned.