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

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
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 03 September 2025 • 1 min read