Financial advice firm Independently East entered compulsory liquidation on 11 September following an application made by the Financial Conduct Authority (FCA).
The Official Receiver has been appointed as liquidator of the Surrey-based firm. On 13 February the regulator imposed restrictions on the firm which meant its accounts were frozen and its permissions to carry out regulatory activities were cancelled. The FCA said it was concerned whether Independently East could be effectively supervised and holds appropriate resources. It also did not provide the FCA with information it requested about its clients, financial position, or a Financial Ombudsman Service award it was due to pay out.