The FSA has ordered IFA network Alpha to Omega to stop new business on certain funds, inc-luding Arch cru, as well as on structured products, pension transfers and drawdown.
The FSA’s register reveals that A2O will stop, with immediate effect, all new business connected with Arch cru funds, Barclays capital jade elixir deposit account, Curzon fixed capital protected profit lock-in deposit account, Guildhall absolute ret-urn fund and Vinum Bordeaux first growth plus fine wine fund.
The register says A2O is “not to engage in the provision of advice relating to or sales of” occupational pension transfer business, pension switching or transfer business, pension drawdown business, split-capital investment business and structured products.
A2O must ensure that any new business has been reviewed by law firm Bond Pearce LLP to ensure it complies with regulations.
By close of business on January 12, A2O was asked to send a letter to each of its appointed representatives in a form approved by the FSA,
notifying them of the change in its permissions.
A2O will also have to provide the FSA with copies of this letter together with a list of all app-ointed representatives and the date it was sent to them.
A20 was unavailable for comment.