The Financial Services Authority has barred Jonathan Townrow from performing regulated activities because of his failure to treat his customers fairly when handling the Pensions Review in the late 1990s.
His firm’s approach to the Pensions Review has been described as “a shambles” by the Financial Services and Markets Tribunal, which has upheld the FSA’s decision and handed out the ultimate sanction of prohibition. The FSA says Townrow’s inability and apparent unwillingness to complete his firm’s pension review, his dealings with his clients, his repeated inconsistencies amounting to lies to the regulator, his failure to comply with decisions of the Financial Ombudsman Service, and his trading while unauthorised and uninsured form the basis of its prohibition. In particular, Jonathan Ph...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
