FCA takes court action over failed £50m care home UCIS

Investors lost £30m

Jenna Brown
clock • 2 min read

The regulator has started High Court proceedings against two men and their firm over links to a failed unauthorised collective investment scheme (UCIS) which saw investors lose at least £30m.

The Financial Conduct Authority (FCA) alleged Robin Forster and Richard Tasker, along with firm Fortem Global, carried out unauthorised activity in relation to the care home investment scheme which raised £50m in the past four years. The regulator said it would seek "injunctions and restitution for investors". It added Forster has already had his global assets frozen pending judgement in the case. He has also been barred from promoting the scheme and further sales have been halted. The FCA said the unauthorised schemes were established and operated by two of Forster's companies whi...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA considers softer SDR rules for index-tracking funds

FCA considers softer SDR rules for index-tracking funds

Amid ‘challenging’ requirements

Cristian Angeloni
clock 16 September 2025 • 1 min read
FCA: Consumer investment product disclosure system 'not working'

FCA: Consumer investment product disclosure system 'not working'

FCA rules are expected in late 2025

Michael Nelson
clock 11 September 2025 • 2 min read
FCA social media crackdown: Three 'finfluencers' make first court appearance

FCA social media crackdown: Three 'finfluencers' make first court appearance

Case brought as part of FCA-led global crackdown on illegal promotions

Jenna Brown
clock 10 September 2025 • 2 min read