The Financial Conduct Authority (FCA) is taking action against at least 16 firms or individuals it believes are running or promoting investments illegally as collective investment schemes (CIS).
It has asked the High Court to find that alternative investment firm Capital Alternatives, rice farm harvest promoters African Land and carbon credits investment outfit Reforestation Projects are acting illegally. It is also acting against at least 13 other firms or individuals. The regulator said it does not regulate the sale of land, property or carbon credits, but does regulate CIS, and a firm must be authorised by it to operate them from the UK. It added it believes the defendants made misleading statements or gave false information when promoting the schemes to investors. The ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
