The Financial Services Authority (FSA) has banned a financial adviser after he gave false references from a previous employer, from which he had been dismissed for dishonesty.
Ian Orbart was hit with a final notice today prohibiting him from performing any function in relation to any regulated activity carried on by any authorised person, exempt person or exempt professional firm.
The FSA said he was "not a fit and proper person" because his conduct had demonstrated a lack of honesty and integrity.
It explained how he had been dismissed from a previous employer for dishonesty, but failed to disclose this to another firm when applying for a job, and also to the FSA when he was seeking approval to performed controlled functions.
Furthermore, he obtained a false reference, purporting to be from his former employer, in which there was no information about how his employment was terminated.
It added: "The FSA considers that Ian Orbart is not a fit and proper person as he has acted without honesty and integrity and, having regard to its regulatory objectives (including the protection of consumers and maintaining market confidence), it is necessary for the FSA to exercise its power to make a Prohibition Order against Ian Orbart."
According to the FSA register, Orbart had controlled functions at Medics Financial Services between September 2007 and January 2012.
The FSA originally handed Orbart a decision Notice on 8 August, and the final notice was issued as he did not refer the matter to the Upper Tribunal (Tax and Chancery Division).
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