Ex-network boss appeals FCA ban over suitability failings

Palmer referred the FCA's decision to the Upper Tribunal where it could be overturned. His former colleague risk management director Paivi Grigg was fined £15,000 for failing to ensure Financial's risk management framework was adequate to mitigate risks to its customers. The FCA's decision concerns advice given between 24 February 2010 and 20 December 2012 to about 40,000 customers and includes advice on high-risk products such as unregulated collective investment schemes. The network's parent company Standard Financial - of which Palmer was also CEO - has since been bought by inve...