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FCA orders wealth management firm to cease operations; interim managers appointed and arrest made

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Published on: 06 April 2023

Published by LNB News

LNB News 06/04/2023

Document Information

Issue Date: 06 April 2023

Published Date: 06 April 2023

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Financial Conduct Authority (FCA) has ordered WealthTek Limited Liability Partnership (WealthTek) to immediately cease operations on all regulated activities after serious regulatory and operational issues coming to light. The FCA has taken steps with the High Court to appoint interim managers to take control of WealthTek, which also trades under the names Vertem Asset Management and Malloch Melville.

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