The FSA's key concerns about UCIS sales

Echoing previous warnings, most recently in its retail conduct risk outlook, they have already triggered enforcement activity which has led to 20 final notices and four decision notices since 2010. Promoting UCIS to Retail Clients The majority of the firms the FSA has seen in its supervisory work could not demonstrate that they took reasonable (or, in some cases, any) steps to ensure their retail clients were eligible to receive UCIS promotions. It saw firms: failing to understand that recommending an investment in a UCIS in the context of advice is a form of financial promotion, so...