The Financial Advisers Act 2008 (FAA 2008) categorises a land investment product (for example a property syndicate or proportionate title scheme) as a category 1 product. Legislation requires people advising on category 1 products, unless operating under the umbrella of a qualifying financial entity (QFE) , to be registered on the Financial Service Providers Register and authorised by the Financial Markets Authority.
If you are a real estate agent or an investment property specialist advising on land investment products, and are not associated with, or part of, a QFE, then the legislation requires you to be registered and authorised.
These guidance notes will assist investment property specialists to determine:
- Whether they advise on land investment products; and
- If they do, what is the process to follow to comply with the legislation; and
- How Strategi can help them to be, and remain, compliant with legislation and regulation
For further information or to discuss your particular circumstances, please contact Strategi.
