Unauthorised bond promoter paid 40% commissions wound up by High Court

Never FCA-regulated

Tom Ellis
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“Asset Backed Management traded in wilful breach of FCA regulations that exist to protect investors. Many members of the public have been impacted by its actions" - Insolvency Service's Helen Cosgrove
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“Asset Backed Management traded in wilful breach of FCA regulations that exist to protect investors. Many members of the public have been impacted by its actions" - Insolvency Service's Helen Cosgrove

Asset Backed Management, an unauthorised firm that was paid between 27.5% and 40% commission to promote bonds, has been wound up by the High Court.

The court heard the firm sold "asset investment opportunities" to the public by cold-calling customers and promoting the investments through its website. Incorporated in January 2017, Asset Back...

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