Jarvis Securities progressing through FCA-agreed review
By Josh White
Date: Friday 31 Mar 2023
(Sharecast News) - Jarvis Securities updated the market on the skilled person review on Friday, which it first announced on 16 September last year.
The AIM-traded firm said the review, which was being conducted by a 'skilled person' under the Financial Services and Markets Act (FSMA), was ongoing, and in the second stage of its work as agreed with the Financial Conduct Authority (FCA).
It said the skilled person was currently reviewing the systems and controls of Jarvis Investment Management (JIML), and its associated recommendation work.
"The voluntarily agreed restrictions, as set out in the previous update, remain in place," the board said in its statement.
"JIML will continue to work with the skilled person and FCA with the aim of having the restrictions lifted on its impacted Model B clients as soon as possible.
"The board will provide a further update in due course and within the next three months."
At 1444 BST, shares in Jarvis Securities were down 3.74% at 129.95p.
Reporting by Josh White for Sharecast.com.
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