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FSA issues consumer warning over advice firm UKEIFAS

The FSA has issued a consumer warning about UK Expatriates Independent Financial Advisory Services, which operates form Middlesbrough and Wrexham.

The regulator believes that UEIFAS may have cashed in investment products taken out on behalf of its clients, without their knowledge or consent, and failed to return those funds to them.

It may have also failed to pass funds transferred to it by clients for investment purposes on to the relevant investment provider.

The FSA says customers who have invested money through UEIFAS should check the status of their investment with their investment provider.

The FSA is urging anyone who made investments through UEIFAS to contact the regulator.

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