City FD quits over ‘irregularities’

The broker, which is a subsidiary of South African insurance group Old Mutual, said the investigation related to ‘certain administrative irregularities in 1999’.

It added that the matters under investigation arose from a failure to reconcile a bank account on a timely basis.

Two of Blatchly’s colleagues have also quit. Compliance director Chris Kingston resigned and development director Mike Jones has retired, Capel said.

Securities and Futures Authority-regulated Capel added: ‘We confirm that no client of the group will suffer any loss and the company is continuing to work with its regulator.’

New FD at Old Mutual

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