Home / Financial Services

Legal News

FCA to return £2.5m to victims of land banking UCIS

Published on: 14 January 2020

Published by LNB News

LNB News 14/01/2020

Document Information

Issue Date: 14 January 2020

Published Date: 14 January 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Financial Conduct Authority (FCA) has obtained High Court approval for a scheme to return £2.5m to compensate victims of a series of unauthorised collective investment schemes (UCIS). In a statement on its website, the FCA confirmed that it will distribute the money it recovered from the liquidation of a Panamanian company related to the unlawful schemes, Paradigm Consultancy SA, to the 573 qualifying investors identified.

Popular documents

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin

Legal News