Ban and £120,300 fine for former firm CEO who 'put investors at risk'

James Lewis was chief executive at London-based Shard Capital Partners

Hope Coumbe
clock • 1 min read

The former chief executive of London-based financial advice firm Shard Capital Partners has been fined £120,300 by the Financial Conduct Authority (FCA) and banned.

In a final notice issued today (7 May), the regulator said James Lewis "put the market and investors at risk" on two separate occasions when he provided incorrect information about clients' cash. "Between June 2015 and May 2017, Lewis told auditors that Shard held hundreds of millions in cash for a particular client," the FCA stated. "In fact, these sums were debts owed by another client in the same group."  Several years later, Lewis again provided misleading information to another client. This client was informed that Shard "held substantial sums on its behalf" when in fact their ca...

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

FCA and FOS joint statement: Targeted support complaints are 'different'

FCA and FOS joint statement: Targeted support complaints are 'different'

Targeted support is a one-off service and does not involve ongoing suitability assessments

Jenna Brown
clock 11 December 2025 • 2 min read
The confidence gap: Why isn't wealth translating into investment

The confidence gap: Why isn't wealth translating into investment

'We can all help turn uncertainty into confidence, and savers into stakeholders'

Jo Kite
clock 11 December 2025 • 3 min read
Advice for all: Why targeted support is a once-in-a-generation opportunity

Advice for all: Why targeted support is a once-in-a-generation opportunity

'Mind the gap, and turn targeted support into enduring financial confidence'

Martin Taylor
clock 10 December 2025 • 4 min read