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

The company can appeal

clock • 2 min read
FCA removes all permissions from IFA firm after adviser convicted for child grooming

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...

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.
  • Tap into our community intelligence through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

The government has responded to its stronger nudge consultation

DWP steps up nudge programme to push savers onto Pension Wise

Minister plans to make Pension Wise guidance more accessible for those who want it

Holly Roach
clock 17 January 2022 • 3 min read
Caroline Rainbird: "A key driver behind the expenses we are anticipating for 2022/23 is an ongoing trend in more complex claims with higher processing costs. Of particular note is an increasing number of claims coming through from customers who were given poor advice to move their pensions into unsuitable investments."

FSCS running costs predicted to hit £95.5m next year

Complex advice claims drive higher costs

Jenna Brown
clock 12 January 2022 • 2 min read
Any draft application not submitted prior to 24 January will be subject to the new fees.

New FCA authorisation fees come into effect on 24 January

Advice firms to pay £2,500

James Baxter-Derrington
clock 11 January 2022 • 2 min read