FCA bans trio behind £35.5m scheme designed to bypass visa rules
The FCA has decided to ban 3 former senior figures at Dolfin Financial (UK) Limited (Dolfin) after finding they ran a scheme that helped clients bypass UK visa rules. Former chief executive Denisz Nagy has been fined £324,800 and former finance director Sanjay Maraj £122,000 for their roles in the scheme. Both have been banned from working in financial services. The FCA has also decided to ban Dolfin co-founder,...
What happened
The FCA has decided to ban 3 former senior figures at Dolfin Financial (UK) Limited (Dolfin) after finding they ran a scheme that helped clients bypass UK visa rules. Former chief executive Denisz Nagy has been fined £324,800 and former finance director Sanjay Maraj £122,000 for their roles in the scheme. Both have been banned from working in financial services. The FCA has also decided to ban Dolfin co-founder,...
Why it matters
The decision may change compliance obligations, market access or operating costs for FCA.
Affected entities
View evidence
1 reports · 1 original report · 1 independent
- Financial Conduct AuthorityPrimary source · Supports · EN · 100%FCA bans trio behind £35.5m scheme designed to bypass visa rules ↗
Claims
- FCA bans trio behind £35.5m scheme designed to bypass visa rules Observed
Conflicts
No material conflict detected in the available evidence.
Timeline
- First reported
Market move following event
Market reaction is not yet available for this asset and time window.