FSA unveils Ucis products crackdown

Press Association
Wine glasses
Wine glasses

A crackdown on the promotion of investments in unusual assets such as fine wines has been announced by the City watchdog after it found "high levels" of unsuitable advice being given.

The Financial Services Authority (FSA) wants the promotion of unregulated collective investment schemes (Ucis) and similar products to be restricted to "sophisticated investors" and people who have a high net worth, for whom the products are more likely to be suitable.