Groups join forces to host UCIS seminar

Three leading providers of unregulated collective investment schemes (UCIS) and a major IFA service provider firm are set to host a series of educational seminars for advisers later this month.

RDR rules dictate financial advisers must be able to both ‘consider’ UCIS and understand how they work if they are to remain independent. An investigation by the FSA last July into IFAs identified non-compliant recommendation of UCIS products by the vast majority of IFA firms investigated. The FSA has publicly stated UCIS compliance will be one of its central areas of scrutiny in 2011, and any IFA found to have provided unsuitable advice on UCIS may face FSA restrictions. Future Capital Partners (FCP), a £6bn alternative investment specialist, has teamed up with Managing Partners C...