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News from the UK that its financial regulator is to clamp down on the mis-selling of alternative investments, has been welcomed by AAA.
UK Crack-down on Mis-sold Alternatives Supported by AAA News from the UK that its financial regulator is to clamp down on the mis-selling of alternative investments, has been welcomed by AAA. Boston, MA, August 25, 2012 - News from the UK that its financial regulator is to clamp down on the mis-selling of alternative investments, has been welcomed by Alternative Asset Analysis (AAA). The alternative investment advocacy group claims that the crack-down on the mis-selling of products know as Unauthorised Collective Investment Schemes (UCIS). In the UK can only be a good thing for the alternative market in general. “We are pleased to see that more is being done to protect those opting for alternative investments,” stated AAA’s analysis partner, Anthony Johnson. “The more that can be done to stop unscrupulous businesses from putting the hard sell on investors, the better the reputation of the valid industry players.” The Financial Services Authority (FSA) in the UK claims that the market for UCIS, which are products that are often worthless if the seller goes into administration, is worth around £2.5 billion. the funds invest is a wide variety of asset classes and when they are mis-sold, the reputation of these asset classes can fall. Many of these products are not based in the UK and are therefore not included under the Financial Services Compensation Scheme, which reimburses investors should they lose cash because a company or bank collapsing. A statement from the FSA said it was taking action because “of the high levels of unsuitable advice it has uncovered and the potential for customer detriment. ‘Examples include: pensioners being advised to invest all of their wealth in a single, illiquid UCIS with a view to generating income; and a customer being advised to borrow money to invest in UCIS and to service the debt with withdrawals from that investment.’ AAA advocates ethical and alternative investments, that are valid and sold the right way. Projects such as the managed forestry fund offered by <a href='http://www.greenwood- management.com/'>Greenwood Management</a>, for example, offer alternative investments from as little as $10,000. Contact: Anthony Johnson Alternative Asset Analysis 71 Commercial St Boston, MA 02109-1320 617-939-9596 email@example.com http://www.alternativeassetanalysis.com ###
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