FSA bans show 'unacceptable behaviour' will not be tolerated
In its latest move in a series of crackdowns the Financial Services Authority (FSA) has banned a broker for attempting to overcharge a client and has cancelled the regulatory permission of two other brokerages and an underwriting agency.
The watchdog banned Paul Cable, director of Media and Entertainment Insurance Services from acting as an FSA approved person for at least two years, for attempting to overcharge a client by £89,000 as well as cancelling the company's permission to undertake any regulated activities.
In relation to the actions taken against Mr Cable and Media and Entertainment Insurance Services, the FSA said that Mr Cable "significantly inflated" the cost of two insurance premiums and falsified two documents in
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