KVB Prime (UK) Limited revealed today through a regulatory filing that Jiandu Wang has been terminated as a director.
According to the filing, through UK Companies House, the termination was effective from the 26th of March, this year. Looking at the Financial Conduct Authority (FCA) register, Jiandu (Nick) Wang was removed as a CF1 Director of the company on the 25th of March, 2019.
The categorization of a CF1 Director is a person who acts in the capacity of a director for a firm if it is a body corporate. Furthermore, Wang’s status on the FCA register is “inactive.” As the FCA highlights, this status change could be due to a range of reasons.
“There are 2 reasons an individual may be shown as ‘inactive.’ Either they are no longer approved by the FCA, or they may work for a firm subject to the new Senior Managers and Certification Regime, effective from 7 March 2016, which covers banks, building societies, credit unions and PRA designated investment firms. In these firms only Senior Managers are pre-approved,” the British regulator outlines on its website.
“Firms now assess other functions such as Customer Functions (CF30s) (including retail investment advisers ). Individuals will show a current status of ‘Inactive’ on the register in these firms if they used to be approved by the FCA.”
Wang helped establish KVB Prime
Wang helped lead the UK operations of KVB Prime alongside Craig Davis, Sanjay Mandla, and Julian Guy Rogers-Coltman. According to the FCA register, Craig Davis is also no longer a registered CF1 Director for KVB Prime (UK) Limited. However, his status is still active.
As per the FCA’s records, Wang was registered as a director for KVB Prime on the 21st of January this year. Before this, he was registered as a CF1 Director for Broctagon Capital Solutions Limited, between January of 2013 until March of 2016.
As Finance Magnates reported in February of this year, KVB Prime (UK) Limited also added two new trading names - KVB Kunlun Prime and KVB Prime.
It is not clear if Wang has left KVB Prime or has instead taken on a new position with the firm. Finance Magnates reached out for comment, but as of the time of publishing, we have not received a response.
