FCA takes legal action against unregulated firms promoting 'misleading' SIPP investments

Firms were not authorised

Hannah Godfrey
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FCA takes legal action against unregulated firms promoting 'misleading' SIPP investments

The Financial Conduct Authority (FCA) has started civil legal action against two firms it alleges misled savers and promoted self-invested personal person (SIPP) investments into alternatives such as tree plantations.

The FCA said it was taking action against firms Avacade and Alexandra Associated, and three employees of the firms, Craig Lummis, Lee Lummis and Raymond Fox.   The firms provided a pension repor...

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