FSA publishes ban orders before Final Decision reached

Laura Miller
clock

The FSA has for the first time made public its damning indictments of an IFA and an insurance broker who it banned for acting without integrity before a final decision has been made on the cases.

The FSA has published the decision notices for Stuart Unwin and Derek Wright ahead of a tribunal on their cases, under a power given to the regulator by Parliament in 2010. An upper tribunal will determine the appropriate action for the FSA to take. It may uphold, vary or cancel the FSA's decision. In a decision notice dated 2 March 2011, the FSA set out its decision to ban Unwin from holding a significant influence function (SIF) on the basis he is neither competent nor capable to do so. In the FSA's opinion, Unwin failed to put in place adequate systems and controls to ensure occ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

'Danger' for advisers who think poor conduct is not relevant to them

'Danger' for advisers who think poor conduct is not relevant to them

‘You cannot rely on people deciding what to do in the moment’

Hope Coumbe
clock 28 March 2024 • 1 min read
Advisers on 'dangerous ground' if they take tick-box regulation approach

Advisers on 'dangerous ground' if they take tick-box regulation approach

‘They should embrace the spirit in which the regulation has been created’

Isabel Baxter
clock 27 March 2024 • 1 min read
FCA enforcement to become 'assertive, proactive and intrusive'

FCA enforcement to become 'assertive, proactive and intrusive'

‘You can expect the regulator to take robust action where needed’

Isabel Baxter
clock 29 February 2024 • 2 min read