Self-invested personal pension (SIPP) provider Carey Pensions has become the subject of a fresh legal challenge, facing a claim it failed to undertake the required due diligence when accepting SIPP investments.
Solicitor Anthony Philip James & Co (APJ) is bringing the case on behalf of Mr R, who lost £30,000 after investing into Green Oil Australia through a Carey Pensions Sipp. It has said Mr R decided to make the investment following communication with an unregulated introducer, who had cold-called him. A spokesperson for Carey Pensions told Professional Adviser the case in question was time-barred, and the firm had not been issued with any court proceedings. Green Oil Australia was an unregulated collective investment scheme (UCIS) that has since failed. The parent company - Green Oil Pla...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes