§ Mr. Nelson
A number of representations have been received on behalf of investors. C. J. How was never authorised to conduct investment business under the Financial Services Act and investors are not therefore eligible for compensation under the investors compensation scheme. I understand that in certain cases where holdings in unit trusts beneficially owned by investors were improperly redeemed by C. J. How, the unit trust firms have made ex gratia payments to individual clients of C. J. How.