Advice firm that bought British Steel client book loses FCA permissions after high-risk bond accusations

The Wolverhampton-based firm lost permissions in August 2019 after being accused by the FCA of placing clients into high-risk bonds and charging fees without providing any service. According to an FCA second supervisory notice published on Tuesday (18 February), but dated 9 December 2019, Fortuna must not carry out any regulatory activities without the permission of the FCA. Specifically, it must not in any way dispose of, transfer, deal with or diminish the value of any of its own assets, nor, without express written permission from the FCA, dispose of, transfer or sell in whole or in p...