The FCA has placed restrictions on Business Agent Limited. The action follows concerns about the firm’s failings related to its 'Nextcrowd' platform. The move to restrict Business Agent Limited came on 22 July 2024, after our review exposed significant regulatory breaches. Following a review of the firm’s representations, we issued a Second Supervisory Notice on 10 September 2024, detailing the findings and the restrictions imposed. Key concerns uncovered The review found a number of areas of concern about Business Agent Limited's operations, including: Unauthorised handling of client money - the firm held and controlled client funds without the necessary permissions. ISA regulation compliance issues - the firm received ISA subscriptions into accounts that were not properly set up under the ISA Regulations. Lack of systems and controls - the firm did not implement effective measures to: manage potential conflicts of interest conduct adequate due diligence on investments listed on its Nextcrowd platform Failure to disclose information - Business Agent Limited did not supply requested details about individuals connected to the firm. Potential breach of financial promotion rules - there may be compliance issues related to the approval of financial promotions. Advice for affected investors With the restrictions now in place, Business Agent Limited can no longer act as an ISA Manager. Investors with ISAs managed by the firm are urged to contact Business Agent Limited directly if they have concerns. The restrictions relate to the platform not the investments. However, investors should reach out to the issuer of their investments to decide if there will be any impact. You can read a copy of the Second Supervisory Notice which outlines further details about our concerns and the basis for imposing the restrictions.