A government oversight body, the Advisory Committee on Business Appointments (Acoba), advised Richard Fuller, a former minister and current shadow chief secretary to the Treasury, that he could accept a position with Investcorp Securities, a UK subsidiary of Bahrain-based Investcorp International. Fuller, who has been associated with Investcorp for over two years, consulted Acoba before rejoining as an advisory board member in 2023.
Investcorp International has a history of investing in controversial technology firms linked to China, including Sense Time, a company associated with facial recognition technology utilized by the Chinese police. In 2018, Investcorp committed up to $150 million to the China Everbright new economy fund, aimed at supporting the Chinese technology sector, which has drawn attention due to human rights concerns. Reports indicate that the Chinese government ultimately controls the China Everbright Group.
Human rights organizations have accused China of engaging in mass surveillance of the Uyghur population in Xinjiang. Sense Time has been linked to this surveillance, with claims it developed technology capable of identifying Uyghur individuals in crowds. In response to these allegations, the United States imposed sanctions on Sense Time in 2021 due to concerns over its technologies.
Fuller, who has held various roles at Investcorp Securities prior to his election to parliament in 2010, stated that his advisory role pertains exclusively to investments in European technology and that he has not engaged with the China Everbright fund or Sense Time. Acoba acknowledged a potential risk in how Fuller’s former governmental influence might benefit Investcorp but allowed for his appointment contingent upon him not utilizing sensitive information for two years.
Acoba is set to be disbanded, with its responsibilities shifting to other government regulatory bodies. A spokesperson for Sense Time rejected the accusations made by the US government, positioning the firm amid broader geopolitical tensions.
Source: https://www.theguardian.com/politics/2025/oct/04/acoba-watchdog-richard-fuller-investcorp-securities-china-surveillance