City FD quits over 'irregularities'
Chris Blatchly, finance director at private client broker Capel Cure Sharp, has resigned after 'administrative irregularities' were uncovered in an internal investigation.
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.’