The UK Financial Conduct Authority (FCA) has refused to authorize Alexander Jon Compliance Consulting Limited (AJCC) to provide regulatory hosting services. This is a service that would have allowed AJCC to take responsibility for firms carrying out regulated activities without being directly FCA approved, known as Appointed Representatives (ARs). AJCC, owned by Joy Ighade could not demonstrate that it had the skills, experience, or the staff to oversee ARs and thus the FCA refused the application to protect consumers from the risk of using a poorly overseen investment business.
Prior to launching AJCC, Joy Ighade was working as Money Laundering Reporting Officer (MLRO) for Koine, a provider of Financial Market Infrastructure (FMI) for digital assets. The company’s website vanished. On its webseite (https://alexanderjon.co.uk), AJCC offered a range of services to firms, including:
- FCA Authorisation / Regulatory Hosting
- Financial Crime (AML, Bribery & Corruption, Fraud and Tax Evasion)
- Training(AML, Financial Promotions & Data Protection)
- Compliance Consultancy & Data Protection Consultancy
We provide these services across the many sectors of financial services including asset management & corporate finance, payment aervices & e-money, cryptocurrency, digital sssets & Ffintech, and consumer credit.
According to the FCA, the company was unable to describe a viable or sustainable business model. AJCC was also unable to explain how its ARs would assess that products or services were appropriate for consumers, or to demonstrate that it would have direct responsibility for the conduct and compliance of its ARs.
