FCA bans uninsured mortgage advisor

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Mr Riches, who operated out of Hornchurch, has been fined £63,000 and prohibited from working in regulated financial services.

In December 2009, the FCA discovered that Riches did not have professional indemnity insurance cover. The watchdog claimed that on 12 January 2010, after discussion Mr Riches, he agreeded to stop performing regulated activities and had his regulatory permission removed.

However, the regulator found that between May 2010 and August 2011, Mr Riches arranged at least 97

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