REG - Fiske PLC - Announcement of VREQ

FiskeAnnouncement

24/09/2025 07:00

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RNS Number : 5208A  Fiske PLC  24 September 2025

24 September 2025

 

Fiske Plc

('Fiske' or 'the Company')

Announcement of VREQ

Fiske announces that it has agreed a Voluntary Requirement ("VREQ") with the
Financial Conduct Authority ("FCA"), which introduces certain restrictions on
the activities of the Company. These restrictions form part of the FCA's
ongoing supervisory engagement with the Company. They follow a review of the
Company's systems and controls relating to the monitoring of its investment
management activities, which included a Skilled Person review that concluded
over the summer.

The VREQ does not restrict the Company in any way from continuing to service
existing clients and accepting new monies and assets from existing clients.
The restrictions solely relate to limitations on the onboarding of new clients
who are not already connected to existing clients, or who are currently in the
process of being onboarded, and placing certain restrictions on the transfer
of the Company's assets while the VREQ is in place. The Company continues to
be able to pay dividends in the normal course of business.

The Company continues to operate with full client money protection permissions
in accordance with applicable regulatory regimes and remains committed to
maintaining a strong and transparent relationship with the FCA.

A Trading Statement has been separately released, covering the second half of
the Company's financial year to 30 June 2025.

The Board and senior management team remain confident about the ongoing
delivery of carefully considered investment management of client portfolios
and the generation of financial returns for shareholders. Whilst the VREQ is
expected to have a minimal effect on the Company's existing activities, the
Company will work to mitigate any impact on financial performance. The Company
continues to co-operate with the FCA to ensure the restrictions on the Company
are lifted as soon as possible. There is an agreed programme of actions
already underway to strengthen the Company's systems and controls which will
be completed over the coming months.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 ("UK MAR") which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of UK
MAR. Upon the publication of this announcement, this inside information is now
considered to be in the public domain. 

 

For further information please contact:

 

Fiske PLC

James Harrison (CEO) Tel: +44 (0) 20 7448 4700

 

Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100

Samantha Harrison / Harrison Clarke / Elliot Peters

 

Media Enquiries

Martin Stott

Bulletin PR. Tel: +44 (0) 7956 917978

 

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