A number of companies in the overseas investment scheme, German Property Group (also known as Dolphin Capital/Dolphin Trust/Red Rock), together referred to as “GPG” have recently entered preliminary bankruptcy proceedings in Germany.
We have published a joint statement with the FCA and FSCS outlining what this may mean if you have money invested in this scheme. You can read the full statement on the FCA’s website.
If you invested in GPG through a financial adviser and/or a SIPP Operator in the UK and you believe you were mis-sold, you may be eligible for compensation. The FCA is working with those financial advisers they have identified as advising UK customers to invest in the GPG, as well as the SIPP operators they have identified that are holding people’s investments.
If you believe you were mis-sold and the firm you dealt with is still trading, you can submit a complaint to them directly. If you’re unhappy with their response, or you do not hear back from them within 8 weeks, we may be able to help.
Update: November 2020
A further update to investors was added to the statement in November 2020, the statement can be found in full on the FCA’s website using the link provided above.
16 December 2020
Today we’ve published a public consultation on our proposed plans and budget for 2021/22.