FSA blocks acquisition over adviser's 'lack of honesty'

clock

The Financial Services Authority (FSA) has blocked acquisition activity by a financial adviser, questioning her reputation and citing her lack of honesty and integrity.

It has decided to object to the acquisition by Ewa Karczewska of at least 70% of the issued share capital of Think Finance.com. Among the products the company deals with are critical illness cover and mortgage decreasing life insurance. According to a decision notice issued by the FSA in February, but only made public this month, Karczewska made the acquisition on 14 September 2010. However, she had not sought the required prior approval from the FSA, and the regulator's subsequent investigations uncovered a number of issues. Evidence used to prove that she lacked honesty and in...

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

SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read
Scenario modelling: Meeting the FCA's retirement expectations

Scenario modelling: Meeting the FCA's retirement expectations

Meeting regulatory standards and maximising good client outcomes

Stephen Ford
clock 22 April 2024 • 5 min read