The FSA have issued yet another fine for missale of unregulated collective investment schemes (UCIS).  This time they have also issued prohibition orders against directors including the Compliance Officer.  

When will firms learn the simple requirements for promoting these products?  Basically you cannot generally promote them and only consider certain select clients for whom they may be suitable.

It is also worrying some of these investments appear on platforms and without proper protections could be selected unawares.

The investor will have no protection if they go wrong and many do end up becoming worthless.  It is remarkable however they are often sold to vulnerable individuals where they are totally unsuitable.

There is considerable remedial work required to sort out this kind of mess and it is better not to get into it in the first place.  Be on your guard and if you're a victim make sure you get compensated.