FCA gives Keydata boss two weeks to pay £76m fine

Owen to pay £3m

Hannah Godfrey
clock • 2 min read

The Financial Conduct Authority (FCA) has given Keydata boss Stewart Ford until 1 February to pay the £76m fine he was confirmed as having to pay last November.

An Upper Tribunal upheld bans and fines the FCA had given to Ford and Mark Owen - the respective former CEO and sales director of Keydata Investment Services.  In a decision noticed published by the FCA on Wednesday (16 January), the regulator said that, if Ford failed to pay the £76m in full by 1 February, it may recover the outstanding amount as debt owed by him. A separate decision notice, also published today, confirmed Owen must pay his £3m fine by 1 February, or this money could also be recovered by the FCA as outstanding debt. Both men are banned from carrying out any regulated...

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 to cut red tape for investment firms in bid to streamline regulation

FCA to cut red tape for investment firms in bid to streamline regulation

Volume of legal text cut by 70%

Linus Uhlig
clock 24 April 2025 • 2 min read
Zero cases of non-financial misconduct opened by FCA in two years

Zero cases of non-financial misconduct opened by FCA in two years

A Freedom of Information request has found

Cristian Angeloni
clock 22 April 2025 • 3 min read
Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

‘Need strong consumer protection in place’

Jenna Brown
clock 22 April 2025 • 3 min read