Alex Hope and Raj Von Badlo were charged with ten offences after claiming they were carrying out Forex trading on behalf of investors.
The pair were arrested following searches by the City of London Police in April and May last year, and have been bailed.
Last year the FSA made clear its intention to crack down on Ucis when it proposed a ban on the schemes, a flurry of advisers have since been charged and banned for failings in the area.
Portfolio Adviser has put together five practical steps for dealing with a Ucis ban, for further information click here.
Financial crime fighting
Earlier in the month eight men were charged with conspiracy to defraud following an on-going investigation by the FCA into the activities of three land banking companies: Plott UK, European Property Investments and Stirling Alexander.
The three firms are believed to have taken £5m from UK investors between 2008 and 2011.
Plott was forced to wind up in June 2011 after the FSA brought civil proceedings against the firm, while EPI was issued with a world-wide freezing and restrint order in December 2012.
The eight men are due to appear at the City of London Magistrates Court on 10th May 2013.
Elsewhere, solicitor Dale Walker has been charged with money laundering offences, while Daniel Forsyth has been charged with providing false information to the FSA.
Jailed
Two men were jailed in separate incidents of insider trading in March this year following a crack-down on what the FSA referred to as ‘easy money’.
A futures trader was jailed for four years for insider trading relating to takeover bids at JP Morgan Cazenove, while former LGIM equities trader Paul Milsom was sentenced to two years in prison for disclosing insider information relating to forthcoming transactions in securities by LGIM between October 2008 and March 2010.
