FSA bans four firms from advising on Ucis

Four firms have been banned from advising clients on unregulated collective investment schemes (Ucis) by the Financial Services Authority (FSA).

Chancery IFA, Streets Financial Consulting, PK Financial Planning and Lupton Fawcett have had their permissions changed to block them from advising on Ucis.

The move comes after a review of Ucis by the FSA last month found that some advisers were recommending them to the wrong types of retail client contrary to its rules.