FSA Bans Introducer Appointed Representative Following Upper Tribunal’s Decision

more+
less-

On 22 May 2012, the FSA published a final notice issued to appointed representative Derek William Wright. The notice prohibits Mr. Wright from performing any function in relation to any regulated activity on honesty, integrity and competence grounds. Mr. Wright was the controller of Moorgate Insurance Agencies Ltd, a small insurance broker. Mr. Wright had acted dishonestly, with a lack of integrity and was found to have a reckless attitude to compliance with regulation. He had been disciplined by the Lloyd’s Disciplinary Tribunal for conducting insurance business in a discreditable manner. He had also performed controlled functions without approval, submitted inaccurate and misleading capital information to the FSA and failed to co-operate with the FSA.

Mr. Wright had referred the FSA’s original decision notice to the Upper Tribunal (Tax and Chancery Chamber). The Tribunal had dismissed the reference and directed the FSA to issue a prohibition notice against Mr. Wright. Final Notice.

 


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, Herrington & Sutcliffe LLP | Attorney Advertising

Written by:

more+
less-

Orrick, Herrington & Sutcliffe LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×