The Financial Conduct Authority (FCA) has banned and fined an adviser £109,400 for lying about her qualifications and faking Statements of Professional Standing (SPS).
Elizabeth Parry was authorised as a sole trader to conduct investment and mortgage business in May 2006 and for consumer credit activities from January 2015. The adviser was found to have fabricated two SPSs and repeatedly lied to the regulator about her qualifications from January 2013. Since 2013, as part of changes following the Retail Distribution Review (RDR), retail investment advisers are required to hold a valid SPS from a professional body and achieve the relevant professional qualifications to be allowed to practise. Parry made six misleading statements to the FCA betwee...
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