Court of Appeal supports FCA on unauthorised business action

The Court of Appeal has supported FCA in upholding findings that Alexandra Associates (UK) Limited, trading as Avacade Future Solutions, and Craig and Lee Lummis carried out unauthorised activities both in arranging and promoting investments, and also made false and misleading statements to investors which induced them to transfer their pensions into SIPPS and then into alternative investments such as HotPods, tree plantations and Brazilian property developments.  Raymond Fox had also been involved in the activities, but was not involved in the appeal.