Ongoing concern about how wealth manager operates its Tier 1 investor visa business With immediate effect, the wealth management firm must stop carrying out any regulated activity. It must also not reduce the value of its assets, or any of the client money or custody assets it holds, without the consent of the FCA. According to a statement on the FCA’s website, it took the action after it “identified a number of serious concerns around the way that Dolfin operates its business, including the firm’s Tier 1 investor visa business activities and financial crime controls”. Ongoing concern “The FCA has been working with Dolfin while it took steps to try and address these concerns, including imposing voluntary restrictions on its regulated activities on 24 December 2019, and commissioning a skilled persons review,” the regulator added.