FSA fines Vantage Capital £700k for unapproved person

Vantage failed to prevent Daniel Hassell from performing the role of Controlled Function 4, the "Partner Function", and had a significant influence over the affairs of VCM despite not being approveto for this role by the FSA, the regulator says. It adds Vantage knew Hassell was not an approved person and the FSA was not satisfied he was a fit and proper person to perform SIFs. Vantage had applied for Hassell to be an approved person as a partner of Vantage. However, Hassell was the subject of an FSA investigation and when the regulator told Vantage of its concerns about him the fir...