BREAKING Winnileaks special: The Jarvis blow up Letter sent to model B clients who have sinned
A good portion of the business of Jarvis Securities (JIM) is providing the back office and custiodial functions for small brokers which don't have the scale to do this for themselves. Clients include the disgraced Pello. It seems that a number of such firms have been onboarding the sort of clients who engage in certain practices which the FCA might frown on. And thus the FCA has forced Jarvis to halt all Firm B clients from taking on new clients while a hugely expensive external consultant establishes what has been going on and what remedial action needs to be taken. Thanks to Winnileaks, the letter Jarvis sent is below.
- By Tom Winnifrith
- 2022-09-20 08:29:50