Opinion: Editor's comment
We're all fully aware the Financial Services Authority (FSA) is getting tough. Both the trade press and the business pages of the national press are full of stories about the regulator fining and banning financial services practitioners. And this is very laudable but one recent case made me wonder whether these individuals really are being suitably punished.
The case in question is that of David Marriott and Simon Gowler - both directors of Target Underwriting and Professional Insurance Select. Mr Marriott, a perfect example of how not to be a broker if ever I saw one, didn't simply misuse client money. This man used client money to give himself, and other staff, bonuses and salary increases and, on top of that, he actually used it to buy a fellow director a £27,500 car as well as splashing out £35,000 for his own car. All in all, he spent over £500
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