Budget, FTSE & the coronavirus outbreak: the week in news

5 Suspended investigation

The Financial Services Compensation Scheme was forced to suspend its investigation into advice firm Wealth Connection after it failed to receive information from Essex police.

Adviser Wealth Connection — which has three claims against it — had been under investigation by the lifeboat scheme but this was unable to continue due to it not receiving information from Essex police to determine whether the firm owes a civil liability to its clients.

One of the directors of the firm was charged with fraud in 2016 and was sentenced to six years in prison.


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