FCA bans IFA for poor advice and fines him £10k

Laura Miller
clock

The Financial Conduct Authority (FCA) has banned an IFA and fined him £10,000 for giving poor advice, including on high risk products.

Clive Rosier, the sole approved person and director at Bayliss & Co, was found to have lacked skill, care and diligence and did not communicate properly with his clients. As a result, the FCA has ruled that Rosier is not a fit and proper person and so has banned him from holding a senior position at a financial firm. Following intervention by the FCA, Rosier has not offered financial advice since September 2010. Rosier gave investment advice to clients, including on high risk products such as unregulated collective investment schemes (UCIS) and failed to collect and record the nece...

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

FCA finfluencer enforcement action increases 174% in 2025

FCA finfluencer enforcement action increases 174% in 2025

FOI findings come as regulators ramp up online crackdown

Isabel Baxter
clock 09 February 2026 • 3 min read
TISA urges FCA to rethink targeted support fees and levies proposals

TISA urges FCA to rethink targeted support fees and levies proposals

Could ‘undermine’ the aims of targeted support

Isabel Baxter
clock 12 January 2026 • 2 min read
FCA's targeted support rules set to take effect from April 2026

FCA's targeted support rules set to take effect from April 2026

Regulator plans to open application gateway for firms in March

Isabel Baxter
clock 11 December 2025 • 5 min read