The Financial Conduct Authority (FCA) has banned a husband and wife financial adviser duo from working in financial services for "integrity failings" following a string of mis-selling claims.
John Chiesa and Colette Chiesa were founding partners of Scottish IFA Westwood Independent Financial Planners, which became insolvent and went into sequestration after the FCA took action over their mis-selling of geared traded endowment policies (GTEP) in May 2011. Mrs Chiesa was also fined £50,000 for attempting to mislead the FCA during an interview with the regulator. Westwood, and therefore the Chiesas with unlimited liability as partners of the firm, had a string of "significant" liabilities arising from numerous claims against them filed with the Financial Ombudsman Service, th...
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