London Capital Group has changed its ownership structure, with Charles Sabet ceasing to be aPerson with Significant Control and MBDW Holdings Limited becoming aregistrable Relevant Legal Entity.MBDW Holdings islinked to LCG's current management. Its directors are David Worsfoldand Matthew Basi. Worsfold is LCG's Chief Executive Officer, while Basiis Managing Director. The pair took over management of LCG before the latestownership change.Worsfold and Basi werepreviously listed as PSCs of MBDW Holdings. Their PSC status later ended, withDFW Holdings and Izzia Holdings becoming registrable PSCs of MBDW Holdings.LCG Control Shifts from Sabet to MBDWThe changes wererecorded in Companies House filings received today (Wednesday) and took effect yesterday.Sabet ceased to be a PSC on the same day that MBDW Holdings became aregistrable RLE.The filings do notdisclose the value of any transaction or explicitly state that MBDW Holdingsacquired LCG. They indicate a change in LCG's registered control structure, butdo not provide details of the underlying transaction.Companies House hadpreviously listed Sabet as an active PSC, with ownership of more than 25% butno more than 50% of LCG's shares.LCG Resumes Operations After FCARestrictionsThe latest filingmarks another change in LCG's ownership following the collapse of FlowBank, theSwiss bank founded by Sabet. FlowBank previously owned LCG, while LCG's UKoperations continued separately after the Swiss parent failed.The Financial ConductAuthority subsequently imposed restrictions on LCG's UK entity followingFlowBank's collapse. The restrictions prevented the company from onboarding newclients, accepting new client money and carrying out certain regulated activities.LCG had shifted to anintroducing-broker model with IG Group before the latest ownership change. TheFCA later lifted the restrictions on the UK entity.This article was written by Tareq Sikder at www.financemagnates.com.