Oberon Investments has agreed to Financial Conduct Authority (FCA) restrictions on its wealth management arm.
Under the voluntary requirement (VREQ) restrictions, the onboarding of new wealth management clients and investment managers will require permission from the financial services regulator while a review of its systems and controls is completed. The VREQ does not affect existing clients, Oberon Investments stated in a trading update this morning (14 April). Other divisions within Oberon Investments, including capital and asset management, are said to be unaffected by the restrictions and "continue to operate normally". Oberon Investments has insurance cover in respect of costs incurr...
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