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 review predicts AI will reshape investment management through 'agentic finance'

FCA review predicts AI will reshape investment management through 'agentic finance'

Sheldon Mills review

clock 06 July 2026 • 3 min read
News editor's view: FCA continues to bring the heat 

News editor's view: FCA continues to bring the heat 

The news editor's Friday Night Takeaway from 3 July

Isabel Baxter
clock 03 July 2026 • 3 min read
FCA urges firms to improve legacy pension value despite historic advice

FCA urges firms to improve legacy pension value despite historic advice

Individuals holding legacy products receiving poorer value, regulator finds

Isabel Baxter
clock 02 July 2026 • 3 min read