The Financial Conduct Authority (FCA) has issued a warning notice to a director of an appointed representative (AR) firm for promoting and arranging unregulated collective investment schemes (UCIS) despite its network not allowing UCIS business.
The regulator called the director's behaviour "reckless", saying it was likely customers were misled into thinking the AR's involvement in the arrangements was authorised. "The FCA considers that the...
£300bn of liabilities
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Appointed by FCA and PSR boards