The Financial Conduct Authority (FCA) has fined and banned Craig Buchan and Martin Cooke for “recklessly” breaching requirements.
Former partners of MedDen Financial Services LLP (MedDen) Buchan and Cooke have been fined £6,037 and £6,020 respectively and banned by the watchdog for breaching an asset requirement imposed on the firm. The FCA imposed an asset requirement on MedDen, meaning the firm could not diminish the value of any of its own assets. The regulator said the asset requirement was imposed to safeguard MedDen's assets for the benefit of its customers who were owed redress for financial losses suffered because of advice they had received. However, the day after the requirement was imposed, Buchan and...
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