FCA takes action against unauthorised director it alleges took £2.8m

High Court proceedings have begun against an unauthorised investment firm and its sole director the Financial Conduct Authority (FCA) alleges took £2.8m from investors.  The regulator said the individual, Daniel Willis, was knowingly concerned in unlawful activity as the sole director of London-based Argento Wealth (AWL). The FCA said the £2.8m may have been taken from victims as part of an unauthorised collective investment scheme and/or as deposits under loan. Willis also allegedly unlawfully arranged investments in EMB Fund Limited totalling $9m (£7.5m) breached the restrictions...