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UK wealth manager Strowz has restrictions imposed over ‘significant concerns’

( May 22, 2025, 12:53 GMT | Official Statement) -- MLex Summary: The UK wealth manager Strowz has had restrictions imposed by the financial markets watchdog that prevent it from undertaking any regulated activity without express permission. The Financial Conduct Authority said it has “significant concerns” that Strowz was not meeting minimum standards. “We discovered that the firm was handling client money without having adequate systems and controls to prevent client money being mixed with the firm’s own funds,” the regulator said. The firm was also acting outside the scope of its regulatory permission in relation to client asset arrangements, the FCA added. Statement below....

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