The publication today by the FSA of plans to ban the sale of "toxic" traded life settlement investments to retail investors serves to seal the fate of advisers who recommended Keydata.
Any uncertainty advisers who invested clients in Keydata had about the regulator's attitude to their advice has been removed today, with the announcement it plans to ban the sale of traded life policy investments to retail investors. A spokesperson for the FSA just told me the regulator has acted to remove the products from the market because it believes they "provide no benefit to investors". On that basis - and leaving aside those advisers who thought the rules of diversification didn't apply to them and put 60%+ of clients' money in Keydata - any adviser who recommended any investo...
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