Temporary Restrictions Agreed with the FCA

We have voluntarily agreed to certain temporary restrictions with the FCA while we undertake a review of our financial crime systems, controls and processes. The FCA explains that where it sees that there is the potential for risk or harm, including aspects like systems and controls, it may invite a firm to agree a voluntary requirement, including a restriction on accepting new business until the relevant issue is reviewed and resolved.

What this means

While the restrictions are in place, Invinitive Financial UK Ltd is not able to:

• Onboard new General Investment Account clients;
• Onboard new Stocks & Shares ISA clients;
• Accept new contributions into any product provided by the Firm.

The Firm may only onboard new Self-Invested Personal Pension clients where the funding is derived solely from pension-to-pension transfers.

Existing clients will continue to be serviced in accordance with the Firm's regulatory obligations and the terms applicable to their account.

Why we have agreed to this

The FCA has asked us to undertake a review of our financial crime systems, processes and controls.

We have agreed to focus our attention and resources on that review. As part of that process, we have voluntarily agreed to pause certain categories of new business and new contributions while the review is being completed and any required enhancements are implemented.

How long will this take?

We currently anticipate that the review process may take up to approximately two months, although the exact timing will depend on the progress of the review and any further engagement with the FCA.

We will keep clients, advisers and other stakeholders updated as matters progress.

FAQs