Nexus Independent Financial Advisors Limited and Nexus Investment Managers Limited have been sold for a total of £500,000 following restrictions placed on the firm’s activities by the FCA.

The FCA has warned that scammers have tried to clone the FCA website and are also regularly using fake emails to target regulated firms.

The FCA has restricted business at London IFA firm Independently East Ltd (IEL) (FRN488046) after it failed to pay a £70,000 Ombudsman award to a client.

Adviser support network SimplyBiz has launched an online interactive ‘Horizon Scanner’, which it said is designed to keep firms up to date with the regulatory activities happening in 2023.