FCA bans uninsured mortgage advisor
The Financial Conduct Authority (FCA) has fined and banned an Essex-based sole trader, Christopher John Riches, for arranging mortgages after his regulatory permission had been removed, and while he did not have professional indemnity insurance, and for giving false information to the regulator about his insurance position.
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
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 info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- JMG strikes its biggest deal of 2024 with BQI swoop
- Pen inks £150m social housing capacity deal with SiriusPoint
- Jensten to invest £1m in fledgling brokers through Coversure