FCA bans mutual society non-exec for conflicts of interest

£20,000 fine

Hannah Godfrey
clock • 1 min read

The Financial Conduct Authority (FCA) has banned Angela Burns from acting as a non-executive director and fined her £20,000 for 'failing to act with integrity' while working for two mutual societies.

The FCA banned and fined Burns on the basis she did not disclose or avoid conflicts of interest during her time as a non-executive director.  Burns is chief executive of her own investment consultancy, and was non-executive director at two mutual societies - Marine and General Life Assurance Society and the Teachers Provident Society - where she served as chair of their respective investment committees. Both mutual societies sought investment manager services and looked to Burns for advice and guidance. FCA fines former non-exec director £154,000 for conflicts of interest During...

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