The Financial Services Authority (FSA) has restricted the approved person status of a independent financial adviser following a review of his financial reporting to the regulator regarding pensions business.
<0p>The FSA has told Jonathon Elms a former senior partner at Teare Rose financial advisers that he cannot hold any position as an approved person involving the exercise of significant influence within a regulated firm. It says this means Elms will no longer be able to hold a management position within an authorised firm. He is also prohibited from operating as a sole trader. He will in future only be able to work as an employee of an firm as an investment adviser.The FSA says Elms’ conduct between March 1999 and July 2004 as a partner at Teare Rose saw him “fail to exercise due care and sk...
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