FCA Bans Investment Advisor For Mutual Society Conflicts
Law360, London (December 14, 2018, 7:39 PM GMT) -- The U.K.'s financial watchdog said Friday it has fined a veteran investment adviser £20,000 ($25,000) and banned her from serving as a company director after she allegedly sought employment with an asset manager even as she steered clients to the firm.
The Financial Conduct Authority said Angela Burns had acted without integrity when she failed to tell two mutual societies seeking her expert advice on choosing an investment manager that she had a conflict of interest over her eventual choice, U.S.-based Vanguard Asset Management.
At the same time as Burns was urged her clients, the Marine and General Life Assurance Society and the...
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