Putting Consumers First

Delivering Access to Justice through

Ethical and Professional Standards

Mis-Sold Unregulated Investments

What is an Unregulated Investment?

Unregulated investments, also known as unregulated collective investment schemes (UCIS) are very high-risk financial products unsuitable for sale to retail clients. Although “unregulated” they must be registered and approved by the FCA. They can then only be sold by regulated persons to self-certified high-risk investors. However, this has rarely been enforced and the sale of unregulated products to anyone willing to buy them has and remains prolific.

Claims are made against IFA’s for promoting, arranging or transacting unregulated investment schemes involving or not involving a regulated product such as a SIPP or mortgage. Unregulated investment schemes cover a wide range of investments, however the focus has been and remains with off-plan property schemes given their abundance.

Obligations of an Adviser of Sales Person for Sales of Unregulated Investments

Some Key Obligations

How was this service mis-sold?

Compensation

Membership Benefits & Services

The Benefits and Services of the Professional Financial Claims Association are intended to extend beyond its own membership. The Financial Claims Management sector needs a credible ‘voice’ at a time of change and increased scrutiny within the sector.

PFCA Code of Practice

The members of the Professional Financial Claims Association wish to set professional standards for member firms...

Download the PDF
Visit the Code of Practice page