Violation Tracker UK Individual Case

Company: Avacade Limited et al.
Penalty: £10,715,000
Year: 2021
Date: 4 August, 2021
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: The Court of Appeal has upheld findings that Alexandra Associates (UK) Limited trading as Avacade Future Solutions engaged in arranging and promoting investments without FCA authorisation and made false and misleading statements to investors which induced them to transfer their pensions into self-invested personal pensions (SIPPs) and then into alternative investments such as HotPods (office space available for rent), tree plantations and Brazilian property developments.
Action Type: agency action
Agency: Financial Conduct Authority
Source of Data: (click here)