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FCA week in review, July 29 – August 2, 2024

FCA montage
GRIP Montage: FCA

Serious concerns over the activities of a wealth management firm, new rules on DCAs, and an assessment of Consumer Duty one year on feature in our latest roundup of FCA work.

Enforcement

Restrictions have been placed on wealth management firm London Stone Securities after the FCA voiced serious concerns about the delivery of client outcomes. This means the firm cannot undertake any regulated activity, charge any further fees to existing clients or take on new clients without the regulator’s express permission.