SIPP provider STM Group Plc - which owns UK-based London & Colonial - is to move its HQ from Gibraltar to the UK following the arrest and release last year of its chief executive.

International SIPP provider STM has agreed with the Gibraltar regulator to use Deloitte to carry out a Skill Persons Review of the company following previous intervention by the watchdog.

SIPP provider STM Group has issued a statement today that its chief executive Alan Kentish has been released from arrest by the Royal Gibraltar police as of 13 November “without any charge.”

Shares in SIPP provider STM Group were suspended from the AIM market today at 7.30 am as the group - whose chief executive was arrested in October - announced an acquisition.