The FCA, which requires approved persons working in the finance and industry to be "fit and proper", has banned a London banker who dodged paying £42,550 in rail fares from ever working in finance again.
The FCA said the actions of BlackRock director Jonathan Paul Burrows had demonstrated "a lack of honesty and integrity". Both are required of FCA approved persons.
He had admitted deliberately failing to purchase a valid rail fare for his entire journey on numerous occasions.
The FCA said: "As Mr Burrows held a senior position within the financial services industry and was an approved person, he should have been a role model for others and his conduct has fallen short of the standard expected for someone in his position."
Burrows, who is now banned for life from working in any regulated financial industries, has since paid back the £42,550, plus £450 in legal costs.
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
Thomas I. Anderson - 16/12/2014 17:35
BlackRock, the multi-interests conglomerate, is again associated with bad reports. It should operate only within its Federal boundaries and be immune from them.