Holborn Assets, a leading financial advisory firm based in Dubai, UAE, said it has won approvals from the Financial Conduct Authority (FCA) to resume operations in the UK.

The firm, which has an office in Manchester, England, will recommence work immediately as a UK regulated Independent Financial Adviser.

The news comes after the UK arm of Holborn Assets temporarily halted operations in the country while it worked with the UK regulator to agree a robust process to advise and execute advice on defined benefit pension transfer business, said a statement from the UAE-based company .

Holborn Assets is authorised by the FCA but this latest move will now give across the board FCA approval, meaning it will also resume offering advice on DB transfers for UK-based clients, as based on the procedures that have been agreed between the business and the FCA.

Commenting on the development, CEO Bob Parker, said: "This is great news for us in addition to the wider industry. Having temporarily paused advisory work in the UK in May on advice from the FCA, we, along with several other firms, are proud to be working in the country again."

Holborn is delighted to have reached an agreement with the FCA and is grateful to the organisation for supporting us in reaching an agreement promptly, he stated.

"We will continue working with the FCA and with immediate effect we are now back to advising our wealth of clients on how they can make the most of their DB pensions as well as their wider personal finances. We will also champion the new and careful FCA guidelines now in place to monitor risk in pension transfers more closely" he added.

A family-owned and operated business, Holborn Assets has over 400 employees worldwide, including 120 financial advisors. Established in the UAE for over 20 years, the company has now expanded to operate throughout Europe, the Middle East and Africa.-TradeArabia News Service