Emma RadmoreThe FCA has started criminal proceedings against Kerry Nelson, former director of Nexus Independent Financial Advisers Limited and Nexus Investment Managers Limited and Jacqueline Stephens, business operations manager at both firms. In both cases, the charges are for alleged fraud, forgery and money laundering, in relation to 4 clients who lost £2m between January 2019 and January 2023.
The FCA says the case took 24 months from opening to it bringing criminal charges, compared to an average 42 months for cases closed in 2023/4.