Stephen Hunt, founder of retirement specialist Rockingham Independent, owes the company almost £100,000, according to a report by liquidator Probitas.
Rockingham was fined £35,000 by the FSA in September 2011 for exposing 426 elderly clients to unsuitable investment advice, 39 of whom were advised to invest in unregulated collective investment schemes (UCIS). However, the fine has not been paid. More than 200 clients with cautious or moderately cautious attitudes to risk were recommended to invest in ARM Bonds. The regulator also banned Hunt, along with Rockingham co-founder Gary Forster and adviser Jonathan Edwards, from advising on UCIS investments. On 16 March, Probitas Ltd announced it had been instructed by Rockingham to sta...
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