The FCA has imposed restrictions on Strowz Ltd, a wealth management firm. It found the firm was handling client money without adequate systems and controls to ensure it was segregated from the firm’s money, and that is was acting outside the scope of its permission in relation to its client asset arrangements. The firm cannot now undertake any regulated activity, accept and client money or facilitate the movement of any client assets or client money without FCA’s express permission. The FCA has also required it to keep assets in the business.
FCA stops wealth manager from carrying on any regulated activities
