Fine and ban for ex-Financial network director

This follows previous enforcement action against Financial in July 2014, when the FCA publicly censured Financial for systems and controls failings and used its suspension power to ban the firms from recruiting new appointed representatives (ARs) and individual advisers (CF30s) for a period of 126 days. The recruitment ban was only lifted in January.   Compliance failings Between 20 August 2008 and 16 January 2013, Bell was responsible for compliance systems and controls at the firms. The FCA found Bell designed and implemented the firms' systems and controls and was therefore...