Adviser fined £16k for UCIS promotion failures

Ian Jones, director at IFA Specialist Solutions Public Limited Company, has also been prohibited from dealing with the promotion of UCIS until he can "remedy his lack of competence and capability". The regulator said Jones failed to "ensure that customers were given suitable advice to invest in UCIS" and had implemented inadequate compliance procedures. It also said the firm's had not implemented appropriate training and competence procedures for its advisers to promote UCIS and had failed to conduct adequate due diligence on the funds being promoted. Specialist Solutions started p...