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Regulator fines Courtover 20,000

The FSA has fined Courtover Investment Management 20,000 for approving a misleading financial promotion with the headline, Invest abroad and receive a 20 per cent return. The promotion was for a the issue of unlisted shares in a separate property investment company, Overseas Property Investments.

While OPI is unregulated by the FSA, it sought approval of the promotion from approved CIM, under FSA rules. The FSA says the promotion failed to disclose the significant risks associated with investing in the shares.

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