FSA storms banned broker’s home
The Financial Services Authority used a search warrant to enter an address in Kent in connection with an investigation into the provision of mortgage advice by a banned individual.
A 64-year-old man was arrested on suspicion of committing offences under the Financial Services and Markets Act 2000.
No-one has been charged at this stage in connection with the FSA’s investigation, which is ongoing.
In a separate investigation the FSA charged Gary Hexley with six offences relating to investment advice given whilst unauthorised.
Hexley is a formerly approved person subject to a prohibition order preventing him from performing any function in relation to any regulated activity in the financial services industry.
John Cooper, Hexley’s business partner has also been charged with three offences. Both men have been bailed and will attend Birmingham Magistrates’ Court on 26 October 2012.