FCA removes all permissions from IFA firm after adviser convicted for child grooming

The company can appeal

Julia Bahr
clock • 2 min read

The FCA revealed it has decided to vary the permission granted to Frensham Wealth Limited by removing all regulated activities from the firm with immediate effect after its sole director Jon Frensham (formerly Jonathan James Hunt) was convicted for child grooming in 2017.

Frensham was convicted of attempting to meet a child following sexual grooming, an offence he committed while he was an approved person. Following the conviction in March 2017, Frensham was sentenced to 22 months in prison, and suspended for 18 months. The IFA is the sole director at Frensham Wealth Limited. The financial adviser was banned by the Financial Conduct Authority in March 2021 for lacking the integrity to work in financial services after being convicted of child grooming. The regulator said Frensham Wealth must, by 4pm on 6 December 2021, notify all customers in writing of...

To continue reading this article...

Join Professional Adviser

  • 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.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Simplified advice regime will boost financial resilience

Simplified advice regime will boost financial resilience

'What's been tabled will help to ease the nation's cash obsession'

David Tiller
clock 01 December 2022 • 3 min read
FCA moves to create simplified financial advice regime

FCA moves to create simplified financial advice regime

‘Proportionate qualifications to keep costs lower’

Jenna Brown
clock 30 November 2022 • 7 min read
Consumer Duty rules define 5.6 million as ‘vulnerable investors’

Consumer Duty rules define 5.6 million as 'vulnerable investors'

Health, life events and financial resilience play a factor

Jenna Brown
clock 30 November 2022 • 1 min read