Sesame Bankhall Group head honcho John Cowan has been caught red-handed in a new adviser inducements scandal.
In a scoop for the first issue of new adviser mag the Wells Street Journal, the wily Scot was snapped off guard at the Money Marketing Awards by our photographer.
Cowan, who has been around the block more time than the hundreds of free model cars on offer at the MM Awards, was unrepentant in accepting the gift.
In a move set to draw the ire of the fun police at Canary Wharf, he even posed with our snapper whilst grinning as if his beloved Celtic had actually won a credible football title.
At secret talks between providers and the regulator last week, it is understood that toy cars were explicitly mentioned in a list of gifts considered likely to influence adviser behaviour, alongside Metlife Snoopys and “get out of PIMS free” cards.
The crack FCA team led by director Nick Poyntz-Wright, who at Skandia was responsible for sponsoring the biggest adviser piss-up of them all at Cowes, is understood to be planning a prohibition-style sweep of adviser offices across the UK on the hunt for diaries, mugs, pen drives and James Hay top trump cards.
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