Former Berry Birch & Noble chief fined £17.5k

Harrison was chief executive of insurance broker BBNIB between 14 January 2005 and 8 May 2006 and was responsible for ensuring it complied with the FSA's client money rules, which he failed to do. In July 2005, BBNIB's auditors identified serious failings in its client money systems and practices, which meant the firm was unable to ensure compliance with the FSA's client money rules. Prior to receiving this information from the firm's auditors, Harrison had neither known nor enquired whether BBNIB was complying with those rules. In particular, the FSA says Harrison was responsible for...