IFA directors banned by FCA for lying about wealth of Elysian Fuel investors

Peter Howsen and John Butterfield, directors of Vanguard Wealth Management - which has no connection to the Vanguard Group - submitted inaccurate information to self-invested personal pension (SIPP) provider James Hay, which had no knowledge of their actions. The FCA said both directors of the now-liquidated firm knowingly and repeatedly made these false declarations, increasing the number of Vanguard customers who purchased Elysian Fuels shares through their James Hay SIPPs. This then generated substantial fees and commissions from which they both benefitted. As a result of their action...