FSA fines adviser £335k for keeping insurance premium payments

Donald McKee Morgan, who was partner at Donald Morgan Insurance Services and responsible for compliance oversight, has also been banned by the regulator. It said Morgan deliberately manipulated the firm's computer systems and falsified monthly reports to conceal his conduct from his network, the FSA said. The network, through which the premiums were meant to be paid, suffered financial loss as a direct result of his actions, although the firm's clients suffered no losses. "The FSA considers Mr Morgan's conduct to be extremely serious because it demonstrates a lack of honesty and in...