A financial adviser currently employed by Holborn Assets in the UAE has been fined and banned in the UK after the Financial Conduct Authority found him guilty of knowingly recommending inappropriate, high risk products to retail clients.
Dubai-based financial advisory group Holborn Assets has launched two offices in the UK as it looks to take advantage of the “incredible growth opportunities” in the region’s post-retail distribution review international business.
Holborn Assets, one of the largest insurances brokerages in the United Arab Emirates, has confirmed that it has remained authorised in the UAE following its absence from the Insurance Authority’s (IA) latest list of licenced firms in the region.
Holborn Assets, one of the largest insurance brokerages in the United Arab Emirates, has dropped off the Insurance Authoritys latest list of licensed firms in the region.
The date of a hearing which will make a final decision on the action taken against a financial adviser who “recklessly” sold high risk investment products to clients in the UK has been pushed back to next year.
An IFA who is currently employed by Holborn Assets in the UAE is facing a ban and £290,344 fine in the UK, after the FCA found he “recklessly” recommended high-risk investment products to clients.
Dubai-headquartered Holborn Assets has expanded into Africa, with new offices in both Ghana and South Africa, and has announced plans for an aggressive recruitment drive.
IFAs need to sell more to ensure people don’t reach retirement penniless,says Holborn’s Bob Parker.
