The FCA has obtained approval from the High Court for a scheme to return £2.5m in compensation to the victims of a series of unauthorised collective investment schemes.
Between 2005 and 2010, around 800 people invested approximately £32.8m in unauthorised collective investment schemes, which according to the FCA, were established and operated by Countrywide Land Holdings Limited, James Kenneth Maynard – trading as Regional Land and Countrywide Land Holdings – and Stephen Ronald Watkins – trading as Consolidated Land UK.
The regulator announced that these schemes involved the unlawful selling of plots of land.
The FCA has recovered £2.5m from the liquidation of a related Panamanian company, Paradigm Consultancy SA, and this amount will now be distributed to the 573 qualifying investors to have been identified.
“Investment promising high returns means there is a high risk investors will lose their money,” FCA executive director of enforcement and market oversight, Mark Steward, commented. “Sadly, this is what happened here. We have worked very hard to identify people eligible to receive compensation from these schemes and are pleased to have been able to recover and return some of their money.
“We would like to thank the Metropolitan Police and Trading Standards for their assistance with this matter.”
Latest News
-
Overall savings product choice continues to beat records
-
GDP grows by 0.4% in July
-
Remortgage searches jump 11% year-on-year
-
Restore Britain unveils plan to abolish FCA/PRA in their current form
-
7IM claims record growth with highest platform AUM growth in Q2
-
Atomos agrees acquisition of MWA Financial
AI, finfluencers and the future of broking
The mortgage industry is evolving faster than ever. In this MoneyAge video, we examine the opportunities and challenges redefining the broker landscape, from AI-powered lending and changing customer expectations to housing affordability, property supply and the rise of financial influencers. Our guest from Chorley Building Society shares practical insights on what brokers need to do to stay relevant and thrive in a rapidly changing market.
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories