Laura Suter: 'Days are numbered' for Innovative Finance ISA

Industry compensation scheme refuses to cover it

clock • 2 min read

Laura Suter looks at the controversial Innovative Finance ISA and asks if the confusing stance taken by government and regulators means the product is not long for this world...

The tide is turning against the Innovative Finance ISA, its days must surely be numbered - although, with the current pace of change in non-Brexit government work, that number of days might be quite high. The regulator has issued clear warnings about the product. Charles Randall, chair of the Financial Conduct Authority (FCA), said that he had seen not only "very risky", but "sometimes fraudulent" investments within the Innovative Finance ISA. It's not the first warning from the regulator, which has issued notes on the product previously and seems to be encouraging the government t...

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