FCA hits Keydata's Ford with £75m fine; Former CEO to fight penalty

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The Financial Conduct Authority (FCA) has indicated it plans to fine former Keydata chief executive Stewart Ford £75m and ban him from any role in financial services for failings related to the investments' sales and, ultimately, failure.

The regulator also plans to fine former Keydata sales director Mark Owen and former compliance officer Peter Johnson £4m and £200,000 respectively for their involvement, in decision notices published on 26 May. All three are to contest the decision notices via the Upper Tribunal, where they and the regulator will each present their cases. The decision notices reflect the FCA's view of "what occurred and how the behaviour is to be characterised", it said. In the FCA's opinion, Ford, Owen and Johnson, who tried unsuccessfully to prevent the publication of the notices, failed to act w...

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