FSA bans 'incompetent' adviser

The regulator says Michael Sheron, a partner at Sheron & Company Financial Advisers, can no longer undertake regulated business. It says he failed to display a willingness to comply with regulatory requirements and principles. Solely responsible for the Liverpool-based firm’s day-to-day business, Sheron failed to sufficiently supervise an adviser, placing the partnership at risk – the FSA says. FSA retail enforcement head Jonathan Phelan says Sheron is banned from performing management functions in relation to any regulated business because he "poses a serious risk to consumers and th...