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FCA begins High Court battle against unregulated schemes
by Michelle Abrego on Oct 16, 2013 at 09:18
‘The position is [that] what every investor receives is reparable to what is produced by their plot and nothing else,’ he said.
He said that the scheme was intentionally set up to up to fall outside of the FCA’s regulatory regime.
Green added that the FCA had only added its plea on ‘perimeter guidance’ two weeks ago. He questioned why the regulator and its counsel did not have ‘sufficient faith’ after three years of investigation to include it in its original 46 page skeleton argument.
The court also heard that the FCA had asked for the case to be adjourned by eight week, which was rejected.
The case continues.
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by Alex Steger on Dec 11, 2013 at 10:19