FCA warns adviser over 'reckless' UCIS sales

The regulator called the director's behaviour "reckless", saying it was likely customers were misled into thinking the AR's involvement in the arrangements was authorised. "The FCA considers that the individual's conduct demonstrates a lack of integrity", it concluded. This was the tenth warning notice published by the regulator since it decided to name firms - and in some circumstances individuals - in public notices last October. It is the first concerning an adviser, following a string of banker warnings. A warning notice is a preliminary action taken by the FCA, following wh...