FSA bans adviser for false references

clock

The Financial Services Authority (FSA) has banned a financial adviser after he gave false references from a previous employer, from which he had been dismissed for dishonesty.

Ian Orbart was hit with a final notice today prohibiting him from performing any function in relation to any regulated activity carried on by any authorised person, exempt person or exempt professional firm. The FSA said he was "not a fit and proper person" because his conduct had demonstrated a lack of honesty and integrity. It explained how he had been dismissed from a previous employer for dishonesty, but failed to disclose this to another firm when applying for a job, and also to the FSA when he was seeking approval to performed controlled functions. Furthermore, he obtained a ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FOS reveals next phase of reforms

FOS reveals next phase of reforms

Including new powers to dismiss certain cases

Isabel Baxter
clock 11 August 2026 • 3 min read
Court sets trial date in illegal financial promotions case

Court sets trial date in illegal financial promotions case

Lucy Beck pleads not guilty

Sophia Panayi
clock 31 July 2026 • 1 min read
FCA flags weak customer outcome focus in firms' monitoring frameworks

FCA flags weak customer outcome focus in firms' monitoring frameworks

Consumer Duty review found inconsistent governance and oversight

Sophia Panayi
clock 27 July 2026 • 2 min read