UCIS

DIRTY WORD?

Self-invested personal pension (SIPP) providers involved in unregulated collective investment schemes (UCIS) have again been warned about their suitability by the Financial Services Authority (FSA).

Venture capital trusts (VCTs) and enterprise investment schemes (EISs) are to fall under the Financial Services Authority's (FSA's) upcoming guidance on unregulated collective investments schemes (UCIS).

UCIS ADVICE

The administrator of Connaught Asset Management is under investigation by an accountancy body for alleged misconduct in a separate case involving high street fashion chain Miss Sixty.

The Financial Ombudsman Service (FOS) has ordered network Pi Financial to compensate two clients it recommended invest in an unregulated collective investment scheme (UCIS).

UCIS provider Connaught Asset Management is to reimburse investors in its Income Series 2 this week.

FIVE THINGS

Venture Capital Trusts (VCTs) are facing the prospect of a steep decline in fundraising if they are not granted an exemption from restrictions on the sales of unregulated collective investment schemes (UCIS).

CONDENSED