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 integrity included her failure to submit a CV after repeated request, while the document eventually submitted contained a "number of inaccuracies".
Among them was a failure to include any references to a regulated firm where she was a controller, which had its permissions removed because of her lack of experience.
Meanwhile, her claims to have previously been an accountant were undermined by the fact she had failed to complete the ACCA Professional Accountancy Course.
Furthermore, she provided the FSA with four different National Insurance numbers and, although she claimed the mix-up was caused by her dyslexia, the regulator said it could not rely on information provided by her in the future.
Karczewska has already referred the matter to the Upper Tribunal, although no date has been set for a hearing.
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