Arrest made in unauthorised investment clampdown

With the assistance of the Dorset Police, the FSA executed search warrants on two premises in Poole, Dorset and one individual was arrested. No-one has been charged at this stage in connection with the FSA's investigation, which is ongoing. Last December, the FSA secured winding-up orders from the High Court against two unauthorised UK firms operating a collective investment scheme. The FSA says there are many types of CISs available to investors with schemes that it regulates, including authorised UK schemes and ‘recognised' schemes from other countries. However, if a CIS is no...