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UCIS

Displaying items by tag: UCIS

SIPP provider DAC Pensions - which had more than 600 clients and nearly £27m in assets under administration - has been declared in default by the FSCS, opening the door to compensation claims.

Published in Articles
Friday, 23 September 2022 09:13

FOS says half of UCIS complaints relate to SIPPs

In its latest complaints data the Financial Ombudsman Service says that nearly half of the complaints it received about unregulated collective investment schemes (UCIS) were related to SIPPs.

Published in Articles
Tuesday, 20 July 2021 17:39

FCA wins £25m back for SIPP victims

The Financial Conduct Authority has secured £25m more compensation for 4,500 investors in the failed Park First scheme which saw investments sold to a number of SIPP investors.

Published in Articles

Financial advice firm Professional Financial Services (PFS) has been ordered by the Financial Ombudsman (FOS) to pay out after advising a client to invest in an unregulated collective investment scheme.

Published in Articles
Wednesday, 11 November 2020 17:08

Investors lose £30m in care homes UCIS

The FCA has launched High Court proceedings against a company and two individuals over alleged links to care home investments which saw investors lose more than £30m in a UCIS.

Published in Articles
An increase in ombudsman complaints about UCIS has been predominantly driven by the rise in complaints from consumers who had taken out Sipps.
Published in Articles
The Association of Member-Directed Pension Schemes is demanding more effort to halt the promotion of UCIS (unregulated collective investments schemes) to the public.
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