Post by Sapphire Capital on Jul 12, 2008 0:16:44 GMT 4
On March 14, 2008 the UK FSA suspended Ethnis Mutual Ltd (Ethnic Mutual Ltd) with public notice:
www.fsa.gov.uk/pages/Library/Communication/PR/2008/023.shtml
www.moneymadeclear.fsa.gov.uk/news/firm/ethnic_mutual.html
currently an audit and a review is in process.
The fund is a concern of the FSA because Industrial and Provident Societies set up for charitable purposes are exempt from regulation by the Charity Commission, while their registration remains in force.
www.fsa.gov.uk/pages/Library/Communication/PR/2008/023.shtml
www.moneymadeclear.fsa.gov.uk/news/firm/ethnic_mutual.html
currently an audit and a review is in process.
The fund is a concern of the FSA because Industrial and Provident Societies set up for charitable purposes are exempt from regulation by the Charity Commission, while their registration remains in force.