Wednesday, 22 August 2012 00:00
In a move to protect ordinary investments, the FSA, who regulate the provision of financial services in the UK, have proposed a ban on the promotion of complex financial products know as UCIS.
UCIS are more risky than other types of investment product and don't offer investors the same level of protection primarily due to the fact that the management companies are often based overseas. Because of this, financial institutions should only promote these products to certain types of investors who fall within the limited exemptions imposed by the statutory framework. However, institutions are consistently failing in their obligations by selling these products to unsuitable investors, according to findings published by the FSA.
For more information, follow this link to the FSA website.
If you have been sold one of these products and feel it may have been mis-sold to you, please contact one of our commercial litigation team. We have experience in dealing with this type of complex financial litigation and we would be happy to hear from you.