View more on these topics

Banned adviser may be operating again

The FSA has launched an investigation after receiving information that a banned financial adviser may be operating again in Sussex.

George Piggott of Redbank Financial Services in Brighton, was banned from acting as a financial adviser after an investigation by the FSA and a hearing before the Financial Services and Markets Tribunal.

The FSA investigation had shown that, among other serious irregularities, Piggott had knowingly relied on forged documents.

The FSA has launched a second investigation after the local press revealed that Piggott is registered as a director of a company called Redbank Mortgage Brokers.

A spokeswoman for the FSA confirmed the probe, but added: “We cannot comment until we have conducted further investigations.”

When the tribunal sat at the end of last year it found that in addition to knowingly relying on forged documents, Piggott had also recommended lying to an insurance company and threatened a number of clients verbally as well as threatening to sue them. Piggott was banned from selling mortgages and insurance as well as operating as a financial adviser.

Speaking after the tribunal ruling a senior spokeswoman for the FSA said: “We take robust action when we discover financial advisers who are attempting to take advantage of their clients’ interests.

“Our investigations concluded that Mr Piggott posed a serious risk to consumers and through the information provided by some of his clients we have been able to ban him from undertaking further regulated activities.”

Recommended

Means to an end?

Sam Shaw finds opinion divided on The Money Portal’s move to help advisers transfer from up-front to fund-based commission.

Morning glory

Congratulations to Vee Montebello who, after 10 years at Gartmore, is leaving to set up her own PR firm – Montebello Communications.Last week was Vee’s leaving do. According to fellow Gartmore-ite, deputy head of corporate communications Kimberley Robinson, the event did not descend into alcoholic chaos but a meeting at 8am the following morning was […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com