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Castlestone investigation ‘not into criminal offences’

Castlestone Investment Management has denied that the FSA investigation into it is connected to criminal offences.

In a statement released today, Castlestone IM stressed it is unable to disclose the exact nature of the investigation as it is bound by the FSA confidentiality.

Castlestone says it is a regulatory matter. A statement reads: “The FSA has opened a regulatory investigation into certain aspects of Castlestone’s regulated business. The FSA’s inquiry is of a purely regulatory nature.  FSA confidentiality prevents Castlestone from providing specific details of the FSA’s concerns.  The FSA investigation is not into criminal offences.”

The firm continues by reiterating it is cooperating fully with the investigation.

“Castlestone attended a constructive meeting with the FSA this morning at which it provided the FSA with all of the information it requested and Castlestone will continue to cooperate with the FSA until the conclusion of the investigation.”

The firm says it remains “financially sound” and that all funds continue to operate as normal. It has offered all clients transparent financial statements on request.

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