Mis-sold or mis-managed Unregulated Collective Investment Schemes (UCIS)?

The Financial Services Authority (“FSA”) has had to with a growing number of complaints relating to the unlawful sales of Unregulated Collective Investment Schemes (“UCIS”) to the general public, including unsophisticated investors and even on occasion vulnerable investors such as the elderly. Often the investor was not aware that they had invested in a UCIS.

UCIS are high risk or speculative investments and are not suitable for the average investor. In fact, the promotion and marketing of UCIS is strictly prohibited to the general public, save for a small number of exemptions limited primarily to sophisticated investors and high net worth individuals.

If you have been sold a UCIS and would like to discuss your circumstances, please contact us at no cost or fill in the short form on the right-hand side.

If your case is accepted, you will be offered a “No Win No Fee agreement”. Generally, if you do have a claim against your financial advisor, it will be covered by your advisors insurance policy. 

A UCIS is a collective insurance scheme that is not regulated by the FSA and therefore not subject to the same restrictions as a regulated collective investment scheme. They are high risk, difficult to value and can result in sudden and devastating losses.

Since UCIS are not regulated by the FSA, if you have suffered a loss, it is highly likely that you will have access to either the Financial Ombudsman Service or the Financial Services Compensation Scheme.

UCIS are rarely suitable for the general public. Before being sold a UCIS your advisor should have ensured that you fitted into one of the exemptions and discussed that exemption with you in detail.

Your advisor should have also explained to you that the investment was unregulated and why the UCIS was suitable for your needs and objectives and explained in detail the specific risks associated with UCIS.

If you are unsure whether your investment is a UCIS, you can usually locate this information in the product literature provided to you when you entered into the investment. Alternatively, you can contact one of our advisors who will be happy to help at no cost.

You can contact one of our experienced team members who will be pleased to assist you. We will fully consider your circumstances at no cost and advise you –

• If the investment you were sold was a UCIS
• Whether or not the sale was legal; and
• Whether the investment was negligently mis-sold to you

If we are able to pursue your claim, you will be offered a “No Win No Fee” agreement.