The FSA says that the sole trader arranged a high yield bond worth £175,000 for a client in June 2007. Cameron initially paid interest on the investment but failed to provide the client with documentation in relation to his investment.
In July 2008, the client requested that his principal investment be returned.
Cameron has failed to repay the investment, without explanation, and has not met with the FSA to discuss the transaction.
The FSA says by failing to respond adequately, or at all, to its requests for an explanation of the situation, Cameron is in breach of Principle 11 of the FSA’s Principles for Businesses.
Cameron can no longer advise on investments or regulated mortgage contracts, carry on a regulated activity and arrange deals in investments or regulated mortgage contracts.