FCA IF ISA Warning (Eventually)

jimjames

Regulars here will have no surprise to see this apart from the fact it's taken the FCA so long to issue such a bland warning.

https://www.fca.org.uk/news/news-stories/investing-innovative-finance-isas

Why is no action being taken against those doing the promotions such as these?

https://damn-lies-and-statistics.blogspot.com/2019/03/grounds-investments-isa-review.html

https://damn-lies-and-statistics.blogspot.com/2019/03/capital-bridge-isa-bond-review.html

We have seen evidence that Innovative Finance ISAs (IFISAs) are being promoted alongside cash ISAs.

Investments held in IFISAs are high-risk with the money ultimately being invested in products like mini-bonds or peer-2-peer investments.

These types of investments may not be protected by the Financial Service Compensation Scheme so customers may lose the money invested or find it hard to get back.

Anyone considering investing in an IFISA should carefully consider where their money is being invested before purchasing an IFISA.

AnotherJoe

How about they make it illegal to advertise them alongside each other rather than issue a warning that the people who needed warning, will never read?

ColdIron

Daytime TV sometimes seems to be wall to wall with IF ISA adverts in the last few months. Apart from a 'capital at risk' strapline there isn't much to alert the unwary of the high risk nature of these investments

Alexland

Is it an April fools joke that retail customers will find that message and take notice?

londoninvestor

Alexland wrote: »

Is it an April fools joke that retail customers will find that message and take notice?

"1st April 2019

It has come to our attention that several stable doors are known to be wide open. We may take action before a horse is seen to bolt.

APRIL FOOL!!"