Ex-Keydata compliance officer drops FCA ban appeal

He dropped his Upper Tribunal case

Carmen Reichman
clock • 3 min read

The Financial Conduct Authority (FCA) has banned former Keydata Investment Services compliance officer Peter Johnson from performing any function in relation to any regulated financial activity and publicly censured him after he dropped his appeal at the Upper Tribunal.

The regulator found Johnson had failed to act with integrity in his role and had misled the then regulator Financial Services Authority (FSA) on a number of occasions. Were it not for Johnson's serious financial hardship, the FCA would have fined him £200,000, it said. The regulator first indicated it planned to ban and fine Johnson alongside former Keydata chief executive Stewart Ford and former sales director Mark Owen in decision notices published on 26 May. All three contested the decision notices via the Upper Tribunal, however Johnson has now pulled out. Proceedings contin...

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

Neil Woodford's W4.0 rejects FCA's characterisation and 'regrettable' civil claim

Neil Woodford's W4.0 rejects FCA's characterisation and 'regrettable' civil claim

In response to civil proceedings from the regulator

Patrick Brusnahan
clock 09 June 2026 • 2 min read
FCA obtains £452,000 confiscation order in Ponzi fraud case

FCA obtains £452,000 confiscation order in Ponzi fraud case

Confiscation order against convicted fraudster Daniel Pugh

Sophia Panayi
clock 08 June 2026 • 1 min read
Two arrested over suspected £153m TikTok tax scam

Two arrested over suspected £153m TikTok tax scam

Accused of promising financial rewards for personal details

Jen Frost
clock 04 June 2026 • 2 min read