Directors of Black and White Group, Chris Ollenrenshaw and Thomas Reeh have both been fined a total of £60,000 by the regulator, while Adrian Childs and Ollerenshaw have been banned.
The Financial Services Authority (FSA) took action against three former directors of Black and White Group Limited (in liquidation) (Black and White), for numerous failings in relation to the sale of mortgages and payment protection insurance (PPI). Christopher Ollerenshaw and Thomas Reeh, the chairman and chief executive respectively, challenged the decisions of the FSA in the Upper Tribunal. The tribunal agreed with the FSA that fines should be imposed but reduced these to £100,000 (£50,000 after financial hardship) for Ollerenshaw and a fine of £75,000 (reduced to £10,000 after fin...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
