Adviser banned and fined for “lacking honesty and integrity”
By Sonia Rach 15
th April 2021 12:49 pm
The FCA has fined an adviser £63,800 for “lacking honesty and integrity” and banned him from working in financial services.
Former adviser Simon Varley worked at Birmingham based IFA Dickinsons Financial Management Limited, where he held a customer adviser function until January 2013.
Following the Retail Distribution Review in 2012, the FCA introduced rules requiring advisers to hold a minimum level of qualification to be approved for this function. As a result, Varley’s customer adviser function was removed in January 2013.
However, despite this, Varley continued to advise retail customers between January 2013 and September 2017.
FCA bans adviser and issues £68,300 fine
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FSCS declares 14 firms in default including Liberty Sipp
By Sonia Rach 4
th March 2021 12:39 pm
The Financial Services Compensation Scheme has declared 14 firms in default, including Liberty Sipp, Pembrokeshire Mortgage Centre Limited and Copia Wealth Management Limited.
People who have dealt with the firms and believe they are owed money as a result, can now make a claim to the FSCS.
Pembrokeshire Mortgage Centre Limited and Copia Wealth Management Limited bot entered liquidation in September 2020 and were also included in the default list today.
Floyd Paterson, the sole director of Copia had at the time appointed Alex Kachani of Crawfords Accountants in Manchester as liquidator. The FCA described Copia as an independent financial adviser which acted as Isa manager.