FSA blocks acquisition over adviser's 'lack of honesty'

It has decided to object to the acquisition by Ewa Karczewska of at least 70% of the issued share capital of Think Finance.com. Among the products the company deals with are critical illness cover and mortgage decreasing life insurance. According to a decision notice issued by the FSA in February, but only made public this month, Karczewska made the acquisition on 14 September 2010. However, she had not sought the required prior approval from the FSA, and the regulator's subsequent investigations uncovered a number of issues. Evidence used to prove that she lacked honesty and in...