vendredi 13 mars 2015
Broker fined £450,000 and banned for life over 'serious' mis-selling of shares in small companies
Posted on 20:06 by nice news
A former stockbroker boss has been banned for life by the Financial Conduct Authority and fined £450,000 after mis-selling shares in small companies.
Sam Kenny, chief executive of the now-dissolved Gracechurch Investments Limited, was involved in ‘serious, repeated and at times deliberate misconduct’.
Between 2008 and 2009, Gracechurch advised 340 clients to buy about £4million of shares in smaller companies. Kenny also showed a ‘lack of integrity’ when answering questions from the FCA, and at one point withheld the transcript of a sales call that it knew to be in breach of the rules.
He also ‘deliberately caused Gracechurch’s lawyers to provide to the Authority false dates of meetings of a particular Gracechurch committee and misled the Authority about how the firm handled a conflict of interest with its clients’.
Read more: http://ift.tt/18J2DhQ
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Sam Kenny, chief executive of the now-dissolved Gracechurch Investments Limited, was involved in ‘serious, repeated and at times deliberate misconduct’.
Between 2008 and 2009, Gracechurch advised 340 clients to buy about £4million of shares in smaller companies. Kenny also showed a ‘lack of integrity’ when answering questions from the FCA, and at one point withheld the transcript of a sales call that it knew to be in breach of the rules.
He also ‘deliberately caused Gracechurch’s lawyers to provide to the Authority false dates of meetings of a particular Gracechurch committee and misled the Authority about how the firm handled a conflict of interest with its clients’.
Read more: http://ift.tt/18J2DhQ
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Broker fined £450,000 and banned for life over 'serious' mis-selling of shares in small companies
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