The FSA today places a restriction on former Teare Rose partner Jonathan Elms for failing to carry out proper pensions review procedures.
Elms has been prohibited from holding any approved person role involving significant influence within a regulated firm.
He will no longer be able to hold any management position within an authorised firm including running his own financial services business as sole trader.
In future, however, he will be able to apply to the FSA to be authorised as an employed investment adviser.
The FSA says the partial ban demonstrates a serious lack of competence or capability in the conduct of the firm’s pension review for which he was solely responsible.