Legislation

Land-banking is the process of taking a large piece of land and dividing it into smaller plots to sell off to investors. Asset Land L.I is the newest offender to be caught by the Financial Conduct Authority (FCA). The FCA felt that Asset Land L.I was operating illegally as a CIS. In February 2013, the High Court ruled that Asset Land L.I were running a Collective Investment Scheme (CIS) without the authorisation of the FCA.