Fiske Plc (Lon: FKE), a London -based asset investment and management company, has agreed a voluntary requirement (VREQ) with the United Kingdom’s Financial Behavior Authority (FCA), which introduces some restrictions on the company’s activities.
These restrictions are part of FCA’s ongoing supervision with the company. Following is a review of the company’s systems and controls on monitoring of investment management activities, which included a review of a qualified person completed during the summer.
Vreq does not limit Fiske in any way by continuing to serve existing customers and accepting new money and assets by existing customers. Restrictions are solely related to restrictions on boarding new customers that are not already linked to existing customers or currently in the process of boarding and the placement of certain restrictions on the transfer of the company’s assets while Vreq is in force.
The company stressed that it is still able to pay dividends during the normal course of work.
Fiske says he continues to operate with the protection rights from full customer money in accordance with applicable regulations and remains committed to maintaining a strong and transparent FCA relationship.
Fiske notes that there is an agreed actions already underway to strengthen the systems and controls that will be completed in the coming months.