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We have banned Mark Kelly and Patrick Gray from working in the financial services industry on the basis that they lack integrity.
Mr Kelly provided financial services to UK customers under the name PCD Wealth and Pensions Management (PCD) and Mr Gray was one of his advisers. Between 2008 and 2010 PCD arranged for over 350 customers to be advised and invested nearly £24 million of customers’ funds in potentially unsuitable investments. PCD also failed to declare to customers the fees it was receiving from a number of these investments.
Mark Steward, director of enforcement and market oversight at the FCA said:
“These two individuals misused pension funds, endangering the retirement incomes of hundreds of people. While further investigations continue, the FCA considers it necessary to prohibit them to help protect consumers.”
http://www.fca.org.uk/news/fca-bans-...k-of-integrity
Mr Kelly provided financial services to UK customers under the name PCD Wealth and Pensions Management (PCD) and Mr Gray was one of his advisers. Between 2008 and 2010 PCD arranged for over 350 customers to be advised and invested nearly £24 million of customers’ funds in potentially unsuitable investments. PCD also failed to declare to customers the fees it was receiving from a number of these investments.
Mark Steward, director of enforcement and market oversight at the FCA said:
“These two individuals misused pension funds, endangering the retirement incomes of hundreds of people. While further investigations continue, the FCA considers it necessary to prohibit them to help protect consumers.”
http://www.fca.org.uk/news/fca-bans-...k-of-integrity
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