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Ex-Barclays adviser jailed for £600,000 fraud

An ex-Barclays adviser has been jailed after stealing £600,000 from dead, elderly and ill customers to feed his gambling addiction.

James Leonard Finnigan was jailed for four years at the Old Bailey last Friday, having previously pleaded guilty to the fraud.

DS Ben Flannaghan, who lead the investigation, said: “It may be cliched to describe a criminal as heartless, but in this instance it is difficult to think of a more apt description.

“James Finnigan appeared to target customers who were elderly in the hope of avoiding detection, in some cases going as far as taking money from accounts when customers had recently died.

“There can be no justifications for his actions, and his sentence reflects that.”



FSA bans and fines IFAs for UCIS advice

The FSA has banned former Best Advice Financial Planning directors Paul Banfield and Anthony Moss from holding any significant influence functions and fined Banfield £10,500 for giving unsuitable advice about unregulated collective investment schemes. Banfield has also been prohibited from being an investment adviser. The FSA found that weaknesses in the firm’s systems and controls […]

The uncertainty principle

Last Wednesday was a good day. Not from a market perspective, where things were mixed, but we spent most of the day in meetings with some of our favourite investors. We got the ball rolling with Jupiter’s Philip Gibbs – a very prudent, watchful investor, whose opinions of bond, equity, commodity and currency markets are […]

Anger over opt-out call for HNW clients

Advisers have hit out at the Treasury select committee for supporting the banking sector’s argument that high-net-worth clients should be able to opt out of the RDR regime. In its report on the RDR, published last week, the committee notes concern from JP Morgan that non-UK funds will not bring their product structures in line […]


Ship hits out at FSA’s outdated equity release stance

Andrea Rozario has attacked the FSA’s “outdated” stance on equity-release products, which she believes discourages providers and advisers from entering the market. Ship director general Rozario is urging the FSA to reconsider its view that advising on equity release is riskier than other mortgage products. She says: “The reality is that if an adviser is […]

Finding security in bond markets

Martin Foden, head of credit research at Royal London Asset Management, explores the role of secured bonds, considering the impact of default and the characteristics of secured bonds versus supranationals and highlighting some examples. He also examines the evolution of the credit market and rating agency inefficiencies. Read the article in full: The value of […]


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