THE FSA has banned IFA Michael Sheron, of Sheron & Company Financial Advisers, after finding him unfit to oversee or manage a business in the regulated financial services industry.
Sheron was a partner at the Liverpool-based company that conducted investment and insurance business where he had sole responsibility for the day-to-day business. Following Sheron’s prohibition, the partnership ceased trading on August 24. The FSA found Sheron as lacking competence and capability and as being unable to demonstrate a readiness and willingness to comply with regulatory requirements and standards. In addition, he had failed to supervise an adviser whose activities had placed the Partnership's financial position at risk, and had not addressed the situation properly, aft...
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