The UK’s Financial Conduct Authority (FCA) will focus on investigating John Dance’s suspected criminal wrongdoing, having secured a 12-month hiatus in its civil case for serious regulatory breaches.
On March 1, 2024, upon application by the FCA, the Honorable Justice Baumgartner, as a judge of the Supreme Court, granted a 12-month stay of the FCA’s civil action against Mr. Dance and WealthTek LLP.
The investigation into suspected criminal offenses in relation to WealthTek LLP and Mr Dance is ongoing. The progress of this investigation has led the FCA to focus its resources on suspected criminal offences. The option to reopen the civil case remains open to the FCA.
The Restraining Order issued on 8 November 2023 for Mr Dance remains in force. The purpose of the order is to preserve assets and make them available for a future confiscation order, which can only be issued after a criminal conviction.
The Special Administration of WealthTek LLP ordered by the Supreme Court on April 6, 2023 also remains.
The British Horseracing Authority remains responsible for matters relating to Mr Dance’s involvement in horse racing activities.