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.

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.

SIPP provider STM Group has voiced its support for chief executive Alan Kentish following his arrest in Gibraltar over allegations connected to a tax dispute and alleged failure to disclose the proceeds of crime.