EEA Group, the company behind the EEA Life Settlements fund, is urging investors who believe they were mis-sold the product to complain to the intermediaries who arranged the sale, following an alert by the Financial Conduct Authority (FCA).
Guernsey-based EEA said it had not provided advice to retail investors in the UK, but instead had marketed the fund to institutional investors and independent financial advisers. The fund is an unregulated collective investment scheme (UCIS) comprised of traded life insurance policies (TLPIs), mainly of US citizens. On 24 September, the FCA invited investors in the fund to consider making a complaint if they believe it had been inappropriately marketed to them. It also alerted advisers to review their sales of the fund and, where any mis-sales are discovered, arrange to compensate ...
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