Broker Network member fined and banned for fraud

Martin Friel
11 May 2012

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Donald McKee Morgan, a partner in Ayrshire-based Donald Morgan Insurance Services (DMIS), has been fined £335,204 and banned from carrying out any regulated financial services activity in the future.

Mr Morgan's wife, Janet, who was the only other partner at DMIS, has also been publicly censured and banned from carrying out regulated financial services.

Mrs Morgan took no active part in the affairs of the firm, and failed to notice her partner's fraudulent activity.

Insurance Age understands

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