The Financial Conduct Authority (FCA) is taking action against at least 16 firms or individuals who it believes are running or promoting investments illegally as collective investment schemes (CISs).
It has asked the High Court to find that alternative investment firm Capital Alternatives, rice farm harvest promoters African Land and carbon credits investment outfit Reforestation Projects are acting illegally. It is also acting against at least 13 other firms or individuals. The regulator said it did not regulate the sale of land, property or carbon credits, but does regulate CISs and a firm must be authorised by it to operate them from the UK. It added it believed the defendants made misleading statements or gave false information when promoting the schemes to investors. The H...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
