Ucis claims manager cuts ‘misleading’ web adverts
Firm targeting Ucis investors forced to withdraw “misleading” statements after Advertising Standards Authority intervention.
A claims management company has withdrawn and amended statements made on its website following an informal investigation by the Advertising Standards Authority (ASA).
Rebus Investment Solutions claimed it could ensure all a client’s capital was returned “along with all professional costs you have incurred”, but this was removed after a complaint alleged the claim was misleading.
In addition, Rebus stated on its website that, when dealing with the Financial Ombudsman Service, an award larger than its £150,000 limit can be obtained on the order of the FOS. This has now been removed.
Rebus targets investors in unregulated collective investment schemes, and claims 45 per cent of funds still operating could result in investor losses.
Adviser Alan Lakey, partner at Highclere Financial Services, and Derek Bradley, chief executive of PanaceaIFA.com, in June met with the Ministry of Justice to discuss the regulation of claims management companies.
Many CMCs are targetting consumers to help them reclaim money locked up in missold payment protection insurance, but take money from any successful claim, whereas approaching the FSCS or FOS directly is free.
A spokesperson for Rebus Investment Solutions said: “The Advertising Standards Authority (ASA) raised concerns regarding three sentences on our website which it felt might be misleading. After consulting with the ASA, we revised the content accordingly. We strive to ensure that all information on our website is clear, factually correct and not misleading in anyway.”