Advice firm enters liquidation following FCA probe

The Official Receiver will be the liquidator of Independently East

Isabel Baxter
clock • 1 min read

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.

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Your profession

Royal London's Clare Moffat

LTA removal remains complex issue for advisers - Clare Moffat

Advisers ‘still do not have their head round how complex LTA is’

Sahar Nazir
clock 27 September 2023 • 2 min read
North Shields where Wade Financial is based

Foster Denovo acquires Chartered IFA adding £220m AUA

Wade Financial brings six advisers and ten support staff

Jenna Brown
clock 27 September 2023 • 1 min read
Impartiality ranks as the most highly valued adviser skill by clients

Impartiality ranks as the most highly valued adviser skill by clients

Research looks at the skills most valued beyond the core advice itself

Hope William-Smith
clock 27 September 2023 • 1 min read