The FCA has removed all regulatory permissions from Verus Financial Services Limited and imposed a stringent assets restriction.
The FCA is concerned that the firm has repeatedly breached an existing asset restriction which the regulator imposed in September 2023 to prevent the business from selling, transferring or diminishing its assets without approval. Verus also failed to comply with a FOS decision requiring it to pay an award in favour of a customer, and has not been open and cooperative with the FCA.