Investors who bought "death bonds", either directly or through a financial adviser, from a fund called EEA Life Settlements were likely to have been victims of mis-selling, the City watchdog has said.
The fund is considered a high risk investment that should not have been sold to ordinary investors, which is why the FCA is urging consumers to come forward. In 2012 the City Watchdog said the fund should not be sold to the vast majority of investors in the Britain.
Investors have been urged to either make a complaint to the firm who sold the fund or make a claim against it. If the firm has gone out of business, the FCA said investors should contact the Financial Services Compensation Scheme.
"We believe that some of you who invested in a fund called EEA Life Settlements are likely to have been mis-sold the product,” the FCA statement said.
“As a result, you may wish to make a complaint to the firm which sold you the investment or make a claim against it.”
The EEA Life Settlements fund is an unregulated collective investment scheme based in Guernsey.
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