UCIS
United Kingdom | 1 Jun 15
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).
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.
Holborn IFA faces ban and 290k fine in UK
An IFA who is currently employed by Holborn Assets in the UAE is facing a ban and £290,344 fine in the UK, after the FCA found he “recklessly” recommended high-risk investment products to clients.
United Kingdom | 29 Aug 14
FCA fines and bans broker over dishonest UCIS
The Financial Conduct Authority has fined and banned an IFA for life after he was found to have sold unregulated funds to retail investors.
United Kingdom | 28 Jul 14
SIPP provider ordered to pay UCIS compensation
The Financial Ombudsmen Service (FOS) has upheld a complaint against SIPP provider Berkeley Burke for failing to meet FCA guidelines over a collapsed £29,000 unregulated collective investment scheme, the first time a provider has been held accountable in such circumstances.