Context
Jason David Rowan was approved to perform the CF1 Director controlled function at Energysave Central Limited between 26 May 2017 and 12 March 2018. Energysave Central Limited was previously authorised by the FCA.
On June 2023, Mr Rowan was sentenced to 7 years’ imprisonment for defrauding elderly and vulnerable customers, was required to pay a victim surcharge of £120 and subject to a confiscation order of £44,826.69. He was also disqualified from acting as a company director for a period of 10 years in accordance with section 2 of the Company Directors Disqualification Act 1986.
Key points to note and next actions
Mr Rowan’s offences were committed over a four-to-five-year period between 2014 and 2019, including whilst Mr Rowan was approved by the FCA. It was found that Energysave Central Limited was set up and run by Mr Rowan for the purposes of defrauding customers into purchasing products promoted by the company as energy-saving wall coatings with the sole intention of making as much profit as possible. The target customers being elderly and sometimes vulnerable.
The FCA has determined that Mr Rowan is not a fit and proper person to perform any function in relation to any regulated activity carried on by an authorised person, exempt person or exempt professional firm.
In concluding that it is appropriate to impose the prohibition the FCA has considered all relevant circumstances, including the relevance and materiality of the offence resulting in the conviction, and the severity of the risk posed by Mr Rowan to consumers and to confidence in the UK financial system. Ultimately, the FCA determined that Mr Rowan’s conviction demonstrates a clear and serious lack of honesty and integrity such that he is not fit and proper to perform regulated activities.