FSA bans ill director for control failures

Graham Darby, director of Ambrose Darby, has been told he can no longer perform "significant influence functions" at any authorised financial firm. The company has also been placed in liquidation and is no longer authorised to conduct regulated business. According to the FSA, it petitioned for the winding up of Ambrose Darby because director Graham, who had been diagnosed in July 2008 with a severe medical condition, was not able to resolve the client money issues at the firm and wind the business up himself in an orderly fashion. It says there were no systems and controls in opera...