FSA shuts down illegal investment firm

Edinburgh-based Cameron Farley Ltd did not have permission to hold customer deposits and its assets have been frozen. The FSA says consumers were at risk as depositors at Cameron Farley would not have statutory regulatory protection were the firm to go bust. The company is known to have offered very attractive returns on its savings accounts of up to 9.75%. Robert Caven and James Earp from Grant Thornton UK LLP have been appointed to liquidate the firm and control its assets until the High Court gives permission for the firm to be wound up. A statement from Grant Thornton reads: “At pre...