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.’
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast