CyprusLiving

Hi Mark,

I've been shown some paperwork from a friend about a possible investment in medical equipment. My friend thinks its good but I am not so sure
There is no company name on any of his paperwork.
Used to work for Devere, Finsbury and possibly yourself apparently. Initials ME.
The salesman / adviser says he is qualified with the Chartered Institute of Investment and Insurance. Have you heard of this organisation?
Thanks

Hello DF,

Sorry for the delay in getting back to you - I have been V. busy!

May make a suggestion to you and your friend - involving bargepoles and not touching...

Firstly I can assure you that the individual concerned (I think I know who you are referring to) has never worked for me or my company.
Secondly I think you hit the note with salesman - interestingly, anyone advising on the purchase of 'financial instruments' including shares, must be regulated by the Cyprus Securities and Exchange commission (CySEC); I suggest if you were to check ME & the company he works for are not.

Touching on the 'qualifications' - I'm not sure if it is your interpretation or what you were actually told:

To my knowledge there is no such thing as the 'Chartered Institute of Investment and Insurance'...

there is the Chartered Insurance Institute (CII)
the Chartered Institute for Securities and Investment (CISI)

However, membership of these organs does not confer the ability to provide advice in Cyprus. This lies with the Insurance Companies Control Service (ICCS) in relation to insurance services, the CySEC in relation to investments and the Cyprus Central Bank in relation to banking services.

My advice to you and your friend would be to leave this 'opportunity' well alone.

If you need anything further, please let me know.

all the best,