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Financial services round-up: FCA restricts Advantage Wealth Management; JMLSG AML guidance revisions; ESMA 2027–2029 programme; FATF compliance methodology update (5 February 2026)

Published on: 05 February 2026

Published by a LexisNexis Financial Services expert
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Financial services developments

FCA imposes restrictions on Advantage Wealth Management Ltd

The Financial Conduct Authority (FCA) has confirmed it has placed restrictions on independent financial adviser Advantage Wealth Management Ltd (AWM). Under these measures, AWM is prohibited from disposing of assets or carrying out any regulated activity unless it has the regulator’s written consent. The step follows concerns that AWM is not being overseen in a way that ensures its affairs are run soundly and prudently. On 22 December 2025, the FCA issued a First Supervisory Notice, setting out further detail on its concerns and the rationale for the restrictions, including:

  • treatment of customers: the FCA is concerned about the circumstances in which a number of AWM clients had their investments shifted into cash holdings
  • appropriate financial resources: the FCA is not satisfied that AWM has, or will have, adequate financial resources
  • levels of co-operation: AWM has not been open and co-operative with the regulator...

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