Non FSA regulated
Discussion
I would be interested to hear what investment exists that is not FSA regulated.
Unless it is direct investment into an individual business.
Most of the unregulated non registered investments I have seen ought to have been registered and were highly unlawful. Many never could be registered.
Details would be good.
Any advice concerning the issue, offer or advertisement of stocks and shares in the UK requires registration. First.
Unless it is direct investment into an individual business.
Most of the unregulated non registered investments I have seen ought to have been registered and were highly unlawful. Many never could be registered.
Details would be good.
Any advice concerning the issue, offer or advertisement of stocks and shares in the UK requires registration. First.
Nice But Dim said:
TBH all I know is that its a FOREX scheme not run out of the UK....
Even though most of my experience is in the debt / equity side of investments. I've been involved in a FOREX fund, that wasn't regulated (was based in Switzerland) and it had a great history (anywhere between 30% - 100% pa) but had major problems since, and they said that their 'model' doesn't work with current financial markets, due to quantitive easing and all the economic issues that are currently causing major fluctuations. Edited by Nice But Dim on Wednesday 22 February 08:22
Whether or not this affects all forex style schemes I don't know, but I felt it could be food for thought.
I had no issues with them being non-FSA regulated....assuming you've done your own due dilligence. But I've (personal opinion) lost faith in FOREX since....
Steffan said:
V8mate said:
I was going to start a similar thread a week or so back.
In the UK, can I start V8mate's Special Investment Fund, or do I need a certificate from The Man.
If you need to ask I would have a big think. First.In the UK, can I start V8mate's Special Investment Fund, or do I need a certificate from The Man.
No, you cannot offer any form of investment advice, in a public way, in the media etc unless you are authorised and regulated by the FSA.
There are devices around this requirement.
If you put together and investment package such as a small fund amongst friends for example, to invest in whatever, without recruiting or advertising in any way, in a public format you might be able to do this.
But the FSA and the authorities do not like such circumvention.
I would consult a specialist firm of lawyers and seek specific advice for the specific investment vehicle you are seeking.
But any advertisement or general placement of an investment in the market definitely requires authorisation.
Complex area of the law. Seek professional advice first.
There are devices around this requirement.
If you put together and investment package such as a small fund amongst friends for example, to invest in whatever, without recruiting or advertising in any way, in a public format you might be able to do this.
But the FSA and the authorities do not like such circumvention.
I would consult a specialist firm of lawyers and seek specific advice for the specific investment vehicle you are seeking.
But any advertisement or general placement of an investment in the market definitely requires authorisation.
Complex area of the law. Seek professional advice first.
V8mate said:
That's really useful. Thank you 
It was indeed a 'friends club' which I was considering, so it's useful to know that it needn't be dead in the water. I was certainly going to take more specific advice regarding drawing up the documentation and tax 'management'.
I would definitely take professional advice first.It was indeed a 'friends club' which I was considering, so it's useful to know that it needn't be dead in the water. I was certainly going to take more specific advice regarding drawing up the documentation and tax 'management'.
But in principle that is possible.
Thanks for your advise
The scheme is not run by any of the big wealth manasgement companies - I think its more like chipping into a "pot" and moonlighting by some professional FOREX traders
I too am dubious - but like all these things the potential rewards of 6-8% per month can be quite compelling
The scheme is not run by any of the big wealth manasgement companies - I think its more like chipping into a "pot" and moonlighting by some professional FOREX traders
I too am dubious - but like all these things the potential rewards of 6-8% per month can be quite compelling
That's interesting - the min ivestment is 25000 Euro a private investor
Sounds like a similar thing - min investment 10kGBP in the one I've been looking at.... hard to understand the details - as there aren't any - but I know folks who have first hand put cash in and out. The interest rate does seem to jump around and also whether the interest is compounded or based on the initial investment seems to change too.....
So this Swiss one you kindly provided a link to - do you know its provenance
Sounds like a similar thing - min investment 10kGBP in the one I've been looking at.... hard to understand the details - as there aren't any - but I know folks who have first hand put cash in and out. The interest rate does seem to jump around and also whether the interest is compounded or based on the initial investment seems to change too.....
So this Swiss one you kindly provided a link to - do you know its provenance
It was one I stumbled upon but really its got nothing to do with Switzerland or being Swiss or anything like that!! That makes me suspicious for starters... They are based in Dubai and have a presence in New York. I may go and visit them in Dubai as I am over there at the end of this month and go and see the whites of their eyes!! I emailed them the questions below for starters and I have shown their replies also. I do sense scam though to be honest. If you can make that much money from 'trading' then why bother with loads of client money, just make it for yourself. Contact them and let me know what feedback you get.
Thank you for your email. Before I go any further with providing you the documents you have requested etc etc.. please could you answer the following questions:
1) Are Swiss Private Capital Ltd regulated by anybody? If they are then who is that?
2) Is the SPC fund traded openly anywhere? By that I mean can I buy shares in the fund through a broker?
3) How do SPC make their money? What do they trade and do they use leverage?
4) What guarantees if any can you give me on my original capital?
5) When and how often can I make withdrawls?
6) What are SPC's charges?
7) What is the maximum possible loss on initial funds?
8) Can I visit your offices and meet the traders and see them trading? Is this done in Dubai?
9) Are client funds kept in a separate client account? If so who has access to this and what authority do they need to do this?
10) Who audits your accounts? Who are they regulated by?
11) What is the minimum and maximum investment you allow?
12) What are the Offshore Structures that you offer?
13) Do you have a presence in the UK?
14) Can I speak with some of your clients about your levels of service?
15) How much is in the SPC fund at the moment?
I look forward to hearing from you.
1 - Swiss Private Capital is a Private Fund operating offshore, double audited and complies with the rules of the Financial Service Act of the RAK Zone.
2 - The fund is not traded on any markets as it is private and manages client assets.
3 - The SPC Fund is diversified into many markets public and private - hence being able to offer such returns for a long period to come.
4 - SPC holds a sinking fund at HSBC to secure client capital.
5 - You can make withdrawals at any time.. There is no lock in period of capital.
6 - Please see www.swiss-private.com/fee-table for performance fees - There is no management charge - You are only charged on profits in your account.
7 - See answer to question (4)
8 - Invitation may be given to large investors to see back-end trading in either DUBAI or SWITZERLAND.
9 - Client funds are kept in segregated accounts at HSBC - When funds are remitted you will be given your account number for the subject field.
10 - Moore Stephens Chartered Accountants and R.A.K Accounting & Auditing in Ras Al Khaimah, UAE.
11 - Minimum investment is EUR/USD 25,000 and there is no maximum investment.
12 - Offshore banking may be offered to potential clients.
13 - We currently have no offices in the United Kingdom.
14 - You may view testimonials from clients on our website, with the possibility to arrange a call, depending on intent.
15 - As of January 1st 2012, SPC manages 480M EURO
I will be your account manager should you wish to become an investor.
With kind regards,
Christopher George
Senior Investment Manager
Thank you for your email. Before I go any further with providing you the documents you have requested etc etc.. please could you answer the following questions:
1) Are Swiss Private Capital Ltd regulated by anybody? If they are then who is that?
2) Is the SPC fund traded openly anywhere? By that I mean can I buy shares in the fund through a broker?
3) How do SPC make their money? What do they trade and do they use leverage?
4) What guarantees if any can you give me on my original capital?
5) When and how often can I make withdrawls?
6) What are SPC's charges?
7) What is the maximum possible loss on initial funds?
8) Can I visit your offices and meet the traders and see them trading? Is this done in Dubai?
9) Are client funds kept in a separate client account? If so who has access to this and what authority do they need to do this?
10) Who audits your accounts? Who are they regulated by?
11) What is the minimum and maximum investment you allow?
12) What are the Offshore Structures that you offer?
13) Do you have a presence in the UK?
14) Can I speak with some of your clients about your levels of service?
15) How much is in the SPC fund at the moment?
I look forward to hearing from you.
1 - Swiss Private Capital is a Private Fund operating offshore, double audited and complies with the rules of the Financial Service Act of the RAK Zone.
2 - The fund is not traded on any markets as it is private and manages client assets.
3 - The SPC Fund is diversified into many markets public and private - hence being able to offer such returns for a long period to come.
4 - SPC holds a sinking fund at HSBC to secure client capital.
5 - You can make withdrawals at any time.. There is no lock in period of capital.
6 - Please see www.swiss-private.com/fee-table for performance fees - There is no management charge - You are only charged on profits in your account.
7 - See answer to question (4)
8 - Invitation may be given to large investors to see back-end trading in either DUBAI or SWITZERLAND.
9 - Client funds are kept in segregated accounts at HSBC - When funds are remitted you will be given your account number for the subject field.
10 - Moore Stephens Chartered Accountants and R.A.K Accounting & Auditing in Ras Al Khaimah, UAE.
11 - Minimum investment is EUR/USD 25,000 and there is no maximum investment.
12 - Offshore banking may be offered to potential clients.
13 - We currently have no offices in the United Kingdom.
14 - You may view testimonials from clients on our website, with the possibility to arrange a call, depending on intent.
15 - As of January 1st 2012, SPC manages 480M EURO
I will be your account manager should you wish to become an investor.
With kind regards,
Christopher George
Senior Investment Manager
F458 said:
I do sense scam though to be honest. If you can make that much money from 'trading' then why bother with loads of client money, just make it for yourself. Contact them and let me know what feedback you get.
That's a pretty bizarre statement, no?Should Warren Buffett's Berkshire Hathaway fund stop trading clients money?
I've obviously picked the most well known fund but there are literally thousands of sound funds that trade clients money despite the managers making fortunes.
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