Insurance Age

Broker fined and banned by FCA

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    • Larry Ferguson

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The regulator found Ralph Whittington caused Savesure to misappropriate insurance premiums.

The Financial Conduct Authority (FCA) has fined Ralph Whittington, a former shareholder at Savesure, £42,111 and banned him from performing any function in relation to regulated activity.

The regulator said Whittington, who was one of three owner shareholders of the business, had failed to act with integrity in carrying out his controlled functions and withdrew his approvals to perform such tasks at Savesure.

In January 2014 he informed the FCA that Savesure had ceased trading and entered

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