62 investors lose bid to sue Gibraltar Qrops trustee in UK
Judge said they failed to establish a ‘good arguable case’ for it to take place in Britain
UCIS
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Sipp providers must check offshore investments, UK rules
FCA warns Sipp providers to notify regulator of any financial strains due to claims from ruling
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Troubled Greyfriars AM sells SIPP, SSAS pension businesses
Advice firm wind up linked to failed DFM service
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Harlequin boss in court
The boss of a defunct Caribbean property group Harlequin appeared in Southwark Crown Court on Tuesday facing charges of fraud.
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Isle of Man watchdog to review unregulated funds
Isle of Man treasury minister Alfred Cannan has confirmed that the island’s Financial Services Authority (IOMFSA) is “undertaking a review” of unregulated funds and will “make appropriate recommendations for change”.
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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.
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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.
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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.
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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.
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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.
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Fraudster gang faces jail terms over £4.3m UCIS losses
Eight fraudsters face a combined total of 26 years’ imprisonment after the UK’s Financial Conduct Authority found they lost over £4.3m of investors’ money in their unauthorised collective investment scheme (UCIS).
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DeVere pays 190k for misselling
A financial adviser has won a long-standing battle against deVere UK to return £190,000 to his clients after the multi-national advisory firm mis-sold high-risk products.