mis-sold endowment challenge

Dave_S_8

In 1992 I was serving in the Army in germany which we were under the assumption was a little piece of British soil & governed & regulated by the government. As I was due to leave the Army i took advice from a german based financial advisor whose head office was in the UK. Many serviceman took the same advice at the time. As you may have guessed, the endowment failed to meet the grade. I tried to find the company & it is no longer trading. I have tried through the endowment company who say it is not their problem (as expected), & i have been through the fscs who ruled that, as the adivisor was based in Germany & i have no paperwork to prove that they dealt through their head office in the UK then they are regarded as not being authorised to conduct investment business in the UK. I have been at this problem for about a year. i have thought of going to the ombudsman but they act in the same vein as the fscs. i think i have come to the end of the line (and my tether). unless anyone out there knows better.

EdInvestor

Unfortunately not.Overseas sales aren't regulated in the UK, even on British bases.

Was the endowment an "offshore" product, ie issued by a UK company's subsidiary in somewhere like Guernsey or the Isle of Man? If so, you could check out the regulator in those jurisdictions.The German regulatory system might also be a possibility.

But usually these overseas salesmen flogging products to UK expats tend to fall through the crack and aren't regulated by anybody.