FSA Mulls Ban on Marketing Complex Products to Retail Consumers
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The U.K. Financial Services Authority intends to ban the marketing of complex investment products involving assets such as wine, crops and timber to retail consumers.
The regulator found “high levels of unsuitable advice” and the “potential for customer detriment,” in a review into products known as Unregulated Collective Investment Schemes, the FSA said today. Around 85,000 retail investors already have direct holdings in UCIS, according to the agency.