Context
A former director has been banned from carrying out any regulated activity by the FCA. The decision has been brought about following an investigation undertaken by the FCA.
Key points to note
- The individual had failed to notify the FCA of his bankruptcy and disqualification as a company director.
- He was convicted of dishonesty offences under the Insolvency Act 1986.
- He became aware he was the subject of a criminal investigation for executing fraudulent transactions. As an approved person there is a requirement upon the individual to report the fact of his disqualification and the fact he was under criminal investigation to the FCA and failed to do so.
- The FCA found that he lacks honesty and integrity in respect of his dealings with the Authority.
Next actions
None – for information