FCA bans and fines two IFAs £885k for misleading 300 clients over property scheme

Mark Bentley-Leek and Mustafa Dervish, who were both directors of Bentley Leek Financial Management (BLFM), were fined £525,000 and £360,000 respectively, reflecting the "seriousness of the breaches and the need to deter others", the FCA said. The pair were found by the regulator to have lacked integrity by failing to inform their clients of their personal interests in the the overseas property schemes they were advising on. They were also found to have continued to advise on the schemes after clients had already lost money from their investments, which had been impacted by the econom...