The FSA has successfully secured asset freezing orders against three companies - Asset L.I. Inc., Equity Services (London) Limited and Asset Land Investment PLC - and three individuals, who have yet to be named, in relation to a suspected land banking operation. The freezing orders will prevent those companies and individuals from selling plots of land on particular sites, pending further investigation by the FSA and other relevant parties.
Although the FSA does not regulate the sale of land, in some cases it may constitute an unregulated collective investment scheme (CIS), which will require FSA authorisation to operate. The FSA has taken this action because none of the companies involved are authorised entities.