Intermediary receives FSA fine and ban for 'turning blind eye'


The FSA found that while Barry Williams, a director of Surety Guarantee Consultants (SGC), had not participated in or directly profited from the fraud, he deliberately ignored his responsibilities as an approved person, turning a blind eye despite clear warnings about the true nature of the scheme. He was found to have lied to the insurers to hide the scheme, allowing himself to become involved in the fraud.

SGC was established in 2004 to write surety bonds and held binding authorities with its

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: