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

Hope William-Smith
clock • 1 min read

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...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?