Advice firm Greystone under fire for multiple unregulated investment advice recommendations

Must compensate

Sophie King
clock • 3 min read

Greystone Financial Services has been told to compensate a client after it advised him to invest in unregulated investment schemes via self-invested personal pensions (SIPP).

At the time of writing, the Financial Ombudsman Service (FOS) showed four decisions against the firm, all that were upheld and all from the same client - Mr B.  Two decisions involved investments in unregulated scheme Brandeaux Student Accommodation, one in Close Bros Second Quartet Commercial Property Fund, one in Rock City Park and Rock Acton Gate and another in Sycamore II Property Development. The advice given was between 2004 and 2008 for all claims. In one decision, Mr B, as referred to by the ombudsman, was advised to invest in Rock City Park, Rock UK Industrial fund and initia...

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

Consumer Duty board reports: Everybody needs a friend – especially smaller firms

Consumer Duty board reports: Everybody needs a friend – especially smaller firms

'It is easier to turn a rowing boat than an oil tanker'

Alison Gay
clock 06 March 2026 • 4 min read
FCA replaces portfolio letters with 'succinct' priorities report

FCA replaces portfolio letters with 'succinct' priorities report

Sets out areas of focus by industry sector

Jenna Brown
clock 05 March 2026 • 2 min read
FSCS declares Campbell & Associates failed after director's fraud charge

FSCS declares Campbell & Associates failed after director's fraud charge

Lisa Campbell has denied all wrongdoing, according to FCA

Jen Frost
clock 03 March 2026 • 2 min read