Compliance Monitor
FCA chases £10.7m restitution after Appeal Court win in Avacade case
By Neasa MacErlean
TheFCA is seeking £10.7m from two unauthorised companies and three of theirdirectors after 2,000 individuals of modest means
lost pension money in treeplantations in Costa Rica and other alternative investments. The move follows aCourt of Appeal decision
to uphold findings of breaches in the ‘Avacade case’by the Financial Conduct Authority.