The Financial Conduct Authority (FCA) has welcomed a “positive outcome for investors” following the settlement of its High Court lawsuit against a law firm over its role in a care home investment scheme.
The regulator's High Court case against Lupton Fawcett, now settled on confidential terms, regarded work undertaken for the Qualia group of companies by a former member of the firm in and around 2016. The FCA had alleged that Lupton Fawcett had been "knowingly concerned" with the promotion of schemes operated by Qualia. UK-based Qualia investors are expected to be contacted by the FCA "in due course" to arrange the distribution of funds. As part of the settlement process, Lupton Fawcett said: "Lupton Fawcett wishes to express its profound regret that it ever became involved with th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
