FSA has secured summary judgment against Stephen Watkins for selling land illegally to UK consumers. FSA could take action because land banking amounts to collective investment, and Mr Watkins was not authorised to conduct activities in relation to collective investment schemes. FSA is pursuing six further cases of illegal land banking and investigating several more. (Source: FSA Cracks Down on Land Banking)
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FSA gets judgment in illegal land bank case
- Dentons
- Rosali Pretorius and Matthew Hodgson
- United Kingdom
- July 1 2011
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Ting Sim
Legal Counsel
Shell Eastern Petroleum