Upper Tribunal upholds Charles Palmer ban and fine

The Upper Tribunal upheld the Financial Conduct Authority's (FCA) claims that Palmer has "failed to act with due skill, care and diligence" while serving at the helm of the adviser network, which includes advice given on high-risk products such as unregulated collective investment schemes. Palmer's national advice network consisted of 397 appointed representatives and 516 registered individuals at its peak in March 2011 and the decision concerns advice given to approximately 40,000 clients between 24 February 2010 and 20 December 2012. Financial Ltd declared insolvency in October 2015...