Jarvis Securities plc Company Update (9505E)
04 Julio 2023 - 8:58AM
UK Regulatory
TIDMJIM
RNS Number : 9505E
Jarvis Securities plc
04 July 2023
04 July 2023
Jarvis Securities plc
("Jarvis" or "the Company")
Company Update
The Board of Jarvis provides a further update to the
announcement on 31 March 2023 on the Skilled Person review as
announced in its update on 16 September 2022.
The Skilled Person reviewed the systems and controls of the
Company's subsidiary, Jarvis Investment Management Limited
("JIML"), pursuant to s166 Financial Services and Markets Act 2000
("FSMA") ("Skilled Person"). The Skilled Person conducted the
review and testing, as part of the second stage of its work
originally agreed with the FCA.
The Skilled Persons has completed its review of JIML's system
and controls and provided its report, including its
recommendations, to JIML and the FCA on 24 May 2023. As a result,
JIML has adopted a remediation plan which it expects to have
substantially completed over the next two to three months. The
Company expects the Skilled Person will review and report on the
remedial steps implemented by JIML in Q4 2023.
The voluntarily agreed restrictions, as set out in a previous
update, remain in place. JIML will continue to work with the
Skilled Person and FCA with the aim of having the restrictions
lifted on its impacted Model B clients as soon as possible.
The Board will provide a further update in due course.
Enquiries :
Jarvis Securities plc 01892 510 515
Andrew Grant / Jolyon Head
WH Ireland Limited 0207 220 1666
Katy Mitchell / Darshan Patel
Notes :
Jarvis Securities plc is the holding company for Jarvis
Investment Management Limited (AIM: JIM.L) a stock broking company
and outsourced service provider for bespoke tailored financial
administration. Jarvis was established in 1984 and is a member of
the London Stock Exchange; a broker dealer member of Aquis Stock
Exchange, authorised and regulated by the Financial Conduct
Authority and an HM Revenue & Customs approved ISA manager. As
well as normal retail broking Jarvis provides cost effective and
flexible share trading facilities within ISA and SIPP wrappers.
Jarvis provides outsourced and partnered financial
administration services to a number of third party organisations.
These organisations include advisers, stockbrokers, banks and fund
managers. Jarvis can tailor its administration processes to the
requirements of each organisation and has a strong reputation for
flexibility and cost-effectiveness.
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END
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July 04, 2023 09:58 ET (13:58 GMT)
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