FCA fines, bans ex-London Capital & Finance compliance head over promos
By 
Jeff Dale2024-02-13T19:17:00
The U.K. Financial Conduct Authority (FCA) issued a fine of 31,800 pounds (U.S. $40,000) against a former director at London Capital & Finance (LCF) for allegedly approving misleading promotions that led to investor deception.
Floris Jakobus Huisamen, who oversaw risk and compliance at the now-insolvent credit broker, will also be banned from serving in the financial services industry, the FCA announced in a press release Tuesday.
Huisamen received a 30 percent discount for agreeing to settle the case, the regulator noted. In October, LCF was censured by the FCA over the misleading promotions it used to market minibonds to investors. Huisamen allegedly approved the promotions.
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