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

Risks and opportunities from the 'death of the annual review'

Risks and opportunities from the 'death of the annual review'

'Annual reviews have historically acted as a safeguard against disengagement'

Graeme Devlin
clock 29 May 2026 • 4 min read
Non-financial misconduct: Rising expectations and rising exposure

Non-financial misconduct: Rising expectations and rising exposure

'Managers need to know what to look for and what to do in the moment, including when to escalate'

Sarah Jackman
clock 27 May 2026 • 5 min read
FCA must still fix investing culture, says LSE CEO

FCA must still fix investing culture, says LSE CEO

‘We’ve protected people from the downside but we haven’t exposed the upside’

Sophia Panayi
clock 20 May 2026 • 1 min read