Brokers banned for criminal conviction cover-up

Brothers Faraz Ahmed Siddique and Waqas Ahmed Siddique were found to have worked to coverup Waqas's conviction for fraud. He was charged with conspiracy to defraud in March 2007, and applied for FSAapproval one month later to perform controlled functions at Aston Sterling Insurance Services. Waqas failed to declare he was currently subject to criminal proceedings, and was forced to resign in June 2008 following a conviction. His brother Faraz then failed to inform the FSA his brother had resigned due to a criminal conviction. Margaret Cole, FSA director of enforcement and financ...