Ex-Keydata compliance officer drops FCA ban appeal

He dropped his Upper Tribunal case

Carmen Reichman
clock • 3 min read

The Financial Conduct Authority (FCA) has banned former Keydata Investment Services compliance officer Peter Johnson from performing any function in relation to any regulated financial activity and publicly censured him after he dropped his appeal at the Upper Tribunal.

The regulator found Johnson had failed to act with integrity in his role and had misled the then regulator Financial Services Authority (FSA) on a number of occasions. Were it not for Johnson's serious financial hardship, the FCA would have fined him £200,000, it said. The regulator first indicated it planned to ban and fine Johnson alongside former Keydata chief executive Stewart Ford and former sales director Mark Owen in decision notices published on 26 May. All three contested the decision notices via the Upper Tribunal, however Johnson has now pulled out. Proceedings contin...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA acknowledges investment trust platform clash and proposes changes in call for wider CCI input

FCA acknowledges investment trust platform clash and proposes changes in call for wider CCI input

Final rules outlined in 2025

Eve Maddock-Jones
clock 19 December 2024 • 6 min read
WealthTek boss John Dance charged with £64m fraud and money laundering

WealthTek boss John Dance charged with £64m fraud and money laundering

‘One of the most serious and largest frauds’ ever investigated by FCA

Jenna Brown
clock 19 December 2024 • 2 min read
Number of financial firms failed by FSCS increases in October and November

Number of financial firms failed by FSCS increases in October and November

Including Charterhouse and Advice & Wealth Management Solutions

Isabel Baxter
clock 18 December 2024 • 2 min read