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On 25 January 2023, we imposed a number of restrictions on Nexus Independent Financial Advisers and Nexus Investment Managers preventing them from carrying out any regulated activities and restricting access to their assets due to concerns about use of certain funds that appear to have been withdrawn by a senior individual in the firms.
Nexus Independent Financial Advisers and Nexus Investment Managers have the right to make written or oral representations to us on the First Supervisory Notice. They also have the right to make a reference to the Upper Tribunal.
Our restrictions will stop Nexus Independent Financial Advisers and Nexus Investment Managers from carrying on any regulated activity and prevent them from reducing the value of the assets they hold, without our consent.
A full description of the restrictions on the firm can be found on the Financial Services Register.
https://www.fca.org.uk/news/news-sto...tment-managers
