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FSA bans IFA over falsified review returns

The FSA has prohibited IFA Redvers Evans from managing the regulatory activity of any authorised person following his misleading actions with regard to the pension review.

Evans, formerly senior partner of Manchesterbased advisers The John Sutton Partnership, has been prohibited from managing following an FSA investigation which found that he falsified JSP’s returns to the FSA about its progress with the pension review.

The FSA says Evans deliberately misled the regulator into believing that JSP had made progress with the pension review when this was not the case. Evans owned 50 per cent of JSP at the time and was responsible for its compliance.

Although Evans is no longer considered fit and proper to hold a senior position, he is still allowed to offer advice under the direct supervision of his employer. JSP has also had its permission cancelled.

Director of enforcement Andrew Proctor says: “The senior partner has a responsibility to ensure adherence to the regulator’s rules. When we become aware of negligent or dishonest behaviour, whether towards customers or the regulator, we will take action.”

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