Guidance issued on Withdrawable Shares

james alcock's picture

A note on withdrawable shares has been made by the Consumer Financial Education Body's website - Moneymadeclear which was established by the Financial Services Authority.

This is provides very clear guidance on how community shares work and what the associated risks are for an IPS issuing transferable shares.

Industrial and Provident Societies are registered by the Financial Services Authority (FSA), the UK’s financial services regulator, but they are not regulated by the FSA to issue these shares. This means that if you buy them and things go wrong you will not be able to use the Financial Ombudsman Service or the Financial Services Compensation Scheme for complaints or compensation. For more information please visit

http://www.moneymadeclear.org.uk/products/investments/types/withdrawable_share_capital.html

 

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Posted by james alcock on 08 July 2010

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 Lots of useful information
Submitted by Helen Melia on Tue, 20/07/2010 - 8:22am.

 Lots of useful information can also be found on the DTA's and CooperativesUK's website:

http://www.communityshares.org.uk

This includes case studies, fact sheets and the two latest publications hot off the press: 

Community Shares: Practitioner’s Guide to Governance and Offer Documents

and

 

Investing in Community Shares

Both of these were published on 15 July and are available to download from the website.

 

 

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