Vertem Asset Management, the company that sponsors the G1 Futurity Trophy at Doncaster, has been ordered to immediately cease carrying on all regulated activities by the Financial Conduct Authority (FCA).
A 48-year-old man was arrested and questioned under caution in connection with the move the authority took “following serious regulatory and operational issues coming to light”.
Vertem, which trades under WealthTek LLP, was founded in 2010 by prominent racehorse owner John Dance, whose colours were carried by a number of high-profile horses, including multiple Group 1 winner Laurens (Fr) and this season's King George winner and Gold Cup runner-up Bravemansgame (Fr).
Dance's horses are based at Manor House Farm in Middleham, where former assistant to Sir Michael Stoute, James Horton trains for the owner.
The owner-trainer combination enjoyed a winner on Wednesday when Harlem Nights (Ire) won at Wolverhampton, bringing their tally for 2023 to two winners from 12 runners. The pair enjoyed 18 winners together in 2022.
Along with Horton and Paul Nicholls, trainer of Bravemansgame, Dance had runners with Karl Burke, Tom Dascombe, Richard Fahey, Charlie Hills, Jedd O'Keeffe and Hugo Palmer last year.
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