Property investment firm Harlequin, used by self-invested personal pension schemes, has had “historic issues” with account record-keeping, it has emerged. Nick Huber reports that the company is suing its former auditor for negligence.
City watchdog the Financial Services Authority (FSA), has issued an “alert” warning financial advisers carry out thorough due diligence before clients invest with Harlequin Management Services (South East) Limited (Harlequin).
The alert, directed at regulated firms and not at Harlequin, said advisers should consider how building work is progressing on the various sites, establish how funds will be used and make a full assessment of all publicly available information about the overseas property investments through Harlequin, and on all the parties associated with these investments.
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.