@CavaliereVerde Darwinex is in London.This is serious stuff,not like New York and Chicago but still.They are trying to attract people with serious money,such people have serious lawyers.This is Anglo-Saxon world,they don't have lax standards when it comes to money.
Upper Tribunal upholds the FCA decision to fine and ban former Keydata executives
Press Releases Published: 06/11/2018 Last updated: 06/11/2018
The Upper Tribunal has today upheld the Financial Conduct Authority’s (FCA) decision to fine and ban Stewart Ford and Mark Owen, the former CEO and sales director respectively of Keydata Investment Services Ltd (Keydata).
The Tribunal ruled that both had acted without integrity and had failed to deal with the FCA’s predecessor the Financial Services Authority in an open and cooperative way. The Tribunal has directed the FCA to fine Mr Ford £76 million and Mr Owen £3,240,787 and agreed that both should be prohibited from performing any role in regulated financial services.
Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA, said:
"Keydata sold complex structured products backed by life settlements based on misleading brochures and without properly assessing whether the products could meet what was promised. The Tribunal found that Mr Ford bears primary responsibility for this, deliberately setting aside his regulatory responsibilities driven by his desire to maximise and preserve financial gain for himself. Those who commit such misconduct have no place in the financial services industry."