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

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...