ADS
Securities London Limited (ADSSL), the British subsidiary of the Abu
Dhabi-based brokerage group ADSS, has started to wind down its operations in
the UK. The firm in a message on its website said the move follows a ‘strategic
decision’ by its parent company to “refocus its resources on other entities
within the Group.”
According
to the Financial Conduct Authority (FCA), ADSSL, which has been authorized to
offer its services in the UK since 2012, applied to cancel its license in June 2023. As a result, the local
entity “will close in due course,” ADSS said in the message, adding that the group “will
cease to onboard and manage clients from this entity.”
“The ADSS
Group remains well-capitalised and continues to be focused on its growth
strategy,” ADSSS explained. “The wind-down of ADSSL will be done in an orderly
manner in accordance with our FCA obligations and we remain available to answer
any questions you may have.”
ADSS announces UK exit
ADS
Securities London Limited (ADSSL), the British subsidiary of the Abu
Dhabi-based brokerage group ADSS, has started to wind down its operations in
the UK. The firm in a message on its website said the move follows a ‘strategic
decision’ by its parent company to “refocus its resources on other entities
within the Group.”
According
to the Financial Conduct Authority (FCA), ADSSL, which has been authorized to
offer its services in the UK since 2012, applied to cancel its license in June 2023. As a result, the local
entity “will close in due course,” ADSS said in the message, adding that the group “will
cease to onboard and manage clients from this entity.”
“The ADSS
Group remains well-capitalised and continues to be focused on its growth
strategy,” ADSSS explained. “The wind-down of ADSSL will be done in an orderly
manner in accordance with our FCA obligations and we remain available to answer
any questions you may have.”
ADSS announces UK exit
