Editor's View: The £2.1m trouble brewing down in Portsmouth

The editor's Friday Night Takeaway from 3 February

Hope William-Smith
clock • 1 min read

We are through the first month of the year, which always means the news and the stories are ramping up.

This week saw the regulator place multiple restrictions on Nexus Independent Financial Advisers and Nexus Investment Managers due to concerns over a missing sum of £2.1m. The monies have disappeared from client accounts and appear to have been withdrawn by the Portsmouth firms' shared director. There is likely a lot more to this story yet to appear, with the firm able to make a reference to the Upper Tribunal on the case. Watch this space… Elsewhere, Unite sent a ‘Dear CEO' letter to Financial Conduct Authority (FCA) chief executive Nikhil Rathi this week regarding the watchdog's ‘refusa...

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Hope William-Smith
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Hope William-Smith

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