UCIS

The main distributor of the suspended Axiom Legal Financing fund is urging investors to sack the fund's directors with immediate effect.

Fiona Murphy asks what the FSA's capital adequacy consultation means for the self invested personal pension (SIPP) industry

The Investment Management Association (IMA) has called on the Financial Services Authority (FSA) tighten up its definitions of banned 'toxic' products to avoid a catch-all situation with other similar investments.

IFA network PI Financial is in the spotlight again over the mis-selling of unregulated collective investment schemes (UCIS), two months after being hit with a £58,000 fine by the regulator for giving unsuitable UCIS advice.

FIVE THINGS

About 500 investors are considering making mis-selling claims against their advisers for recommending unregulated collective investment schemes (UCIS) linked to the film industry over the past ten years, the FT reports.

The Financial Ombudsman Service (FOS) has ruled Intrinsic Independent Limited must repay about £86,000 to a client it gave unsuitable advice to invest his self-invested personal pension (SIPP) into an offshore property unregulated collective investment...

CONDENSED

The Association of Investment Companies (AIC) has backed industry calls for the Financial Services Authority (FSA) to relax planned rules restricting the sale of EIS and VCTs to retail investors.

A financial adviser has been banned and fined £117,330 for mis-selling unregulated collective investment schemes (UCIS).