"HBFS’s customers are advised to check the status of any investments made through HBFS and, if they have any concerns, to contact City of London Police."
The announcement follows the arrest of a 49 year old male from Borehamwood.
HBFS offers restricted advice and specialises in offshore wrappers.
In a statement, the FCA said: "HBFS’s customers are advised to check the status of any investments made through HBFS and, if they have any concerns, to contact City of London Police."
A notice on HBFS's website says: "Please note that HBFS is not accepting business from new customers at this time. Our full ‘ongoing’ service to existing clients and their investment needs continues as normal."