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FCA urges unauthorised land banking scheme victims to get in touch to return funds

Publish date: 01 March 2019
Issue Number: 60
Diary: CompliNEWS
Category: General

The UK's Financial Conduct Authority (FCA) is urging members of the public who invested in unauthorised collective investment schemes, and who may be eligible to receive some of their money back, to get in contact with the FCA.

Between 2005 and 2010, approximately 870 members of the public invested approximately £32.8m in unauthorised collective investment schemes established and operated by Countrywide Land Holdings Limited, James Kenneth Maynard (trading as Regional Land and Countrywide Land Holdings Limited) and Stephen Ronald Watkins (trading as Consolidated Land UK Limited). These schemes involved the unlawful selling of plots of land.

FCA media release

FSA secures £32 million High Court judgment against three land banks (2012)

Working Smart

By Lee Rossini

In the current environment, fee transparency is a defining characteristic of a trustworthy and sustainable business. Clients are informed, cautious, and demanding about understanding what they are paying for. Transparency is both a regulatory requirement and a commercial imperative. Businesses that clearly explain their charges and value proposition are more likely to build long-term trust, strengthen client relationships, and differentiate themselves in a competitive market.