CIB LIFE AND PENSIONS & SIPP CLAIMS
It wasn’t a surprise to us when we saw CIB Life & Pensions appear in The Gazette as it went into liquidation on the 20th May 2015, shortly after being “caught out” regarding SIPP suitability rules.
Long-story-short, The Financial Ombudsman found CIB Life & Pensions at fault when they sold unregulated, HIGH RISK investments (in this case, Harlequin properties) to people who were unsuitable, putting their pension at high risk.
But Harlequin properties wasn’t the only high-risk overseas property investment CIB Life & Pensions pedalled to those they shouldn’t have; if you took advice from CIB Life & Pensions (and especially if you were advised to put your money into overseas resorts) then it might be time to get an important second opinion on that advice to see if you are eligible to make a claim, re-balancing the potential loss and risk exposure of your pension.
CIB Life and Pensions probably dealt with many different things, but one thing they sure did a lot of was advice on high-risk and non-FCA regulated investment, The Resort Group in Cape Verde
The Resort Group is supposed to be building and operating a range of hotels in Cape Verde such as Dunas and Llana Beach, but some investors have reported patchy results.
As a non-standard investment, The Resort Group should have only been marketed to certain people, and we’ve been winning claims for those who were mis-sold for the last few years.