BusinessCompany NewsFSA to publish splits report

FSA to publish splits report

The Financial Services Authority has confirmed it expects to publish its preliminary report on split trusts this Thursday.

The report, which comes in the wake of the growing scandal over split capital investment trusts, could result in a far-reaching investigation into the industry.

Many investors have lost out by investing in the trusts, which have suffered from falling stock markets and a ‘magic circle’ of funds that invested in each other.

The highly complex structures were marketed as low risk investments, but now many investors face losing up to 90% of their money.

Class Law, the group legal action specialist, is continuing to plan moves against those advisers, including accountants, who adviced clients to invest in the trusts.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor