The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), has imposed restrictions on Colver Ferck, the former CEO of the UK-based fund management company «SVS Securities». These restrictions prevent Ferck from undertaking any activities related to financial services in or from the DIFC. This action follows a similar move by the UK's Financial Conduct Authority (FCA), which in June 2024 fined Ferck and prohibited him from performing any role related to regulated activities. The FCA's decision was based on Ferck's breach of integrity standards and his failure to demonstrate the required level of skill, care, and diligence in his role at SVS, deeming him a «person who lacks fitness and propriety».
