FSA takes action against two firms of IFAs over the promotion of complex investment products
April 14, 2011
The FSA has fined IFA firm Specialist Solutions plc pound;35,000 for failing to assess adequately whether customers were eligible to receive promotions for Unregulated Collective Investment Schemes (UCIS) and failing to ensure that customers were given suitable advice to invest in them.
The FSA uncovered the issues with Specialist Solutions' recommendations as part of its thematic review into the promotion of UCIS in 2010.