David Wren, chief executive of failed broker Astbury Wren, has been banned from undertaking any regulatory activity and fined £70,000 by the Financial Conduct Authority (FCA).
Wren was found to have taken £630,909 in premiums paid by his clients for his firm’s use.
The FCA concluded that Wren breached a fundamental regulatory principle, which is a requirement to act with integrity.
Astbury Wren paid premiums it collected into a client account and Wren was solely responsible for then transferring
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