Collective investment

Asset Land Investment plc and another v Financial Conduct Authority [2016] UKSC 17, [2016] All ER (D) 131 (Apr); NLJ 6 May

The Supreme Court, in dismissing the appellants’ appeal, held that arrangements made by the first appellant company, which was controlled by the second appellant, to enable members of the public to invest in land, amounted to collective investment schemes within the meaning of s235 of the Financial Services and Markets Act 2000 and, thus, “regulated activities” for the purpose of s19 of the Act.