Former London Capital & Finance director handed £31,800 fine

Floris Jakobus Huisamen ‘recklessly signed off hundreds of promotions’

Hope Coumbe
clock • 1 min read

A former director of London Capital & Finance (LCF) has today (13 February) been banned from working in financial services and handed a £31,800 fine.

The Financial Conduct Authority (FCA) said Floris Jakobus Huisamen "recklessly signed off hundreds of promotions" while working at the disgraced mini-bond provider which contributed to thousands of investors being misled. The watchdog said the financial promotions signed off by Huisamen "presented a misleading picture" as well as making mini-bonds "appear a far more attractive investment than they were". "Huisamen signed off these financial promotions despite his own concerns about LCF's strategy," it stated. "He failed to provide proper scrutiny or sufficiently challenge senior manag...

To continue reading this article...

Join Professional Adviser for free

  • 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

Agile IT needed as rapid regulation change becomes the norm

Agile IT needed as rapid regulation change becomes the norm

'Gone are the lengthy consultation and rule-setting cycles that often took several years'

Paul Muir
clock 15 April 2024 • 6 min read
Leveling up the playing field when it comes to picking skilled persons

Leveling up the playing field when it comes to picking skilled persons

Given the prerequisite for accuracy, a rigorous selection process is essential

Richard Farr
clock 15 April 2024 • 4 min read
A practical way forward: Utilising hybrid to close the advice gap

A practical way forward: Utilising hybrid to close the advice gap

Will the FCA's advice/guidance review increase access to advice?

Chet Velani
clock 02 April 2024 • 6 min read