Former BGC Senior Executive Banned by FCA Due to Concerns Over His Fitness and Propriety

more+
less-
more+
less-
Explore:  Brokers FCA UK

On January 29, the FCA published a final notice regarding Anthony Verrier, a former inter-dealer broker at BGC Brokers LP.

The FCA has adjudged Mr. Verrier not to be a fit and proper person due to concerns it had over his integrity. These concerns came about as a result of the evidence Mr. Verrier gave in a UK High Court case.

The case, Tullett Prebon plc v BGC Brokers LP (and 13 others, including Verrier), concerned Mr. Verrier’s participation in an unlawful means conspiracy, including his inducement of certain Tullett brokers to breach their employment contracts with Tullett by leaving early to join BCG without lawful justification.

The FCA has prohibited Mr. Verrier from performing any function relating to any regulated activity carried on by any authorized or exempt person or exempt professional firm. Final Notice. Tullett Prebon plc v BGC Brokers LP.

 

Topics:  Brokers, FCA, UK

Published In: Business Torts Updates, Finance & Banking Updates, Labor & Employment Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick - Structured Finance Group | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »