One-man band financial adviser Darren Cummings has been banned and fined more than £29,000 by the Financial Conduct Authority (FCA) for faking qualification documents.
The financial watchdog said he fabricated - or caused the fabrication of - two documents that purported to be a statement of professional standing (SPS) from the Chartered Insurance Institute (CII) in order to mislead the regulator into believing he was fully qualified to provide investment advice. The FCA said Cummings does not hold and had never held the qualifications required to be a retail investment adviser and had never been issued with an SPS. Cummings was the sole approved person at DCC Financial and was approved to perform the CF1 controlled function at the firm. He also ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
