More than 5,000 financial advisers, brokers and bankers have been sacked or suspended since the beginning of the financial crisis, according to Financial Conduct Authority (FCA) figures.
The figures, which were obtained through a freedom of information request by The Times newspaper, revealed that 5,070 people have been forced out of the industry for dishonest or reckless conduct in the five years since 2009. Figures peaked in 2009 and 2012, when the FCA received 1,095 and 1,373 'qualified Form Cs' respectively. Form Cs are part of a mandatory reporting process for the financial services industry, and must be lodged when firms deem employees unfit to work or when they dismiss or suspend any approved individual authorised to act on their behalf. Last year financial ...
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