A former investment adviser has been fined £19,900 and banned by the Financial Conduct Authority (FCA) for fabricating his Statement of Professional Standing by using a template he found online.
The regulator determined Ewan King, an appointed representative of Intrinsic Independent, was not a fit and proper person, lacked honesty and integrity, and posed a risk to consumers and to confidence in the financial system. SPSs prove that an adviser is qualified to the minimum standards put in place following the Retail Distribution Review (RDR), which include a QCF Level 4 qualification. King, who did not have the relevant qualifications, is the first adviser to be banned by the FCA for fabricating these Statements. As an AR, he managed to deceive his principal firm by completi...
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