'Unauthorised' investment scheme appeals court verdict

The FCA announced on Monday it has won its battle against two unauthorised investment schemes after the High Court ruled they were to be classed as collectives and therefore must be regulated. The court found that the two alternative investment schemes promoted by Capital Alternatives - rice harvest promoters African Land and carbon credit scheme Reforestation Projects - were acting illegally by being unauthorised. But African Land said it had obtained permission to pursue an appeal via the Court of Appeal. It was "confident its appeal will succeed", it said. The FCA, which brought...