FCA bans and fines insurance intermediary
Whittingham has been fined £42,111 and banned from performing regulated activities.
Preston-based Savesure, of which he was a shareholder, ceased trading in January 2014 and entered voluntary liquidation in July 2014.
The FCA found that Mr Whittington failed to act with honesty and integrity by knowingly causing Savesure to misappropriate insurance premiums paid to the firm’s clients.
Whittington agreed to settle at an early stage of the FCA’s investigation and therefore qualified for a 30% discount.