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FCA cancels adviser’s permissions over disclosure failings

The Financial Conduct Authority (FCA) has cancelled the permissions of Somerset-based adviser Mark Warner after he failed to provide the regulator with information requested in relation to a client transaction.

The final notice, pubished today, says the FCA is cancelling all regulated permissions of the Advanced Financial Management sole trader.

The FCA says it “cannot be satisfied that Warner’s affairs are being conducted in an appropriate manner, having regard in particular to the interests of consumers”.

Warner received a supervisory notice in April explaining the FCAs intention to cancel permission.

He did not refer the decision to the Upper Tribunal and his permissions were subsequently cancelled on May 29. 

The regulator has been unsuccessfully requesting information of Warner’s personal debt obligations and finances since June 2013.

Both the FCA and Financial Ombudsman Service have been requesting information disclosure in relation to a transaction for a client since September 2013. 


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