On February 07, 2011 Financial Services Authority (FSA) published that the Upper Tribunal (Tax and Chancery Chamber) has directed the FSA to fine David Massey £150,000 and ban him from performing any role in regulated financial services for engaging in market abuse. On 1 November 2007, Massey short sold 2.5million shares of Eicom, the then AIM-listed digital broadcaster, at 8p per share on the basis of the inside information that Eicom was intending to issue new shares at 3.5p per share.

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On February 02, 2011 Financial Services Authority (FSA) published that Christian Littlewood, a senior investment banker and former FSA Approved Person, his wife Angie Littlewood (also known as Siew Yoon Lew and Angie Lew) and a family friend, Helmy Omar Sa’aid, have today been sentenced for insider dealing contrary to section 52 of the Criminal Justice Act 1993.

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On February 02, 2011 Financial Services Authority (FSA) published that in a case brought by the FSA Rupinder Sidhu (DOB 17/02/71), a management consultant, appeared before City of Westminster Magistrates’ Court charged with 23 counts of insider dealing, contrary to section 52 of the Criminal Justice Act 1993 and one count of money laundering contrary to section 328(1) of the Proceeds of Crime Act 2002.

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On January 12, 2011 Financial Services Authority (FSA) published that the authority has refused an application made by Firm A under Section 60 of the Financial Services and Markets Act (FSMA) for Steven Andrew Hemmings to perform the Customer Function (CF30).

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On January 25, 2011 Financial Services Authority (FSA) published that the authority has banned five mortgage intermediaries and fined one of them £104,000. This brings the total number of mortgage intermediaries banned since December 2006 to 101. Most of the individuals have been banned because they are not fit and proper to work in regulated financial services through failings that led to mortgage fraud.

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On January 21, 2011 Financial Services Authority (FSA) published that Neil Rollins, a former senior manager of PM Onboard Limited, a waste industry firm, was today sentenced to 27 months in prison for insider dealing and money laundering. Rollins was also ordered to pay £197,000.66 in confiscation.

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On January 19, 2011 Financial Services Authority (FSA) published that the authority fined and banned the two partners of the investment firm Clark Rees LLP for failing to ensure the firm made suitable recommendations to its customers regarding Unregulated Collective Investment Schemes (UCIS). Paul Clark was fined £10,500 and Ceri Rees was fined £17,500. They have been banned from performing senior roles and also from selling UCIS to customers for two years.

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On December 23, 2010 Financial Services Authority (FSA) published that an individual identifying himself to UK citizens as Paul Lynn Thomas is not authorised under the Financial Services and Markets Act 2000 (FSMA) to carry on a regulated activity in the UK. Regulated activities include, amongst other things, advising on investments and dealing and arranging deals in investments. We believe that the individual may be targeting UK customers.

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On October 08, 2010 Portuguese Securities Market Commission (PSMC) published that Schiller Gates is not authorised by FSA – The Financial Services Authority (The UK Supervisory Authority).

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On January 17, 2011 Financial Services Authority (FSA) published that the authority prohibited Mr Mark Thorogood pursuant to section 56 of the Financial Services and Markets Act 2000 effective as on 10/01/2011.

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On Janaury 12, 2011 Financial Services Authority (FSA) published that the authority gave Mr Christopher William Gower a Decision Notice on 02 December 2010 which notified Mr Gower that pursuant to section 66 of the Financial Services and Markets Act 2000, the FSA had decided to impose a financial penalty of £50,000 for failing to comply with Principle 3 of the FSA’s Statements of Principle for Approved Persons.

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On Janaury 10, 2011 Financial Services Authority (FSA) published that the authority gave Akhlaq Hussain trading as Merlin Finance (MK), a Decision Notice on 01 December 2010, which notified him that for the reasons given below and pursuant to section 45 of the Financial Services and Markets Act 2000, the FSA had decided to cancel the permission granted to him pursuant to Part IV of the Act. Hussain has not referred the matter to the Upper Tribunal within 28 days of the date on which the Decision Notice was given to him.

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On Janaury 10, 2011 Financial Services Authority (FSA) published that the authority gave Matt Stevens, a Decision Notice on 01 December 2010 which notified him that for the reasons given below and pursuant to section 45 of the Financial Services and Markets Act 2000, the FSA had decided to cancel the permission granted to him pursuant to Part IV of the Act. Stevens has not referred the matter to the Upper Tribunal within 28 days of the date on which the Decision Notice was given to him.

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On Janaury 06, 2011 Financial Services Authority (FSA) published that the authority has fined Barry Williams £25,000 and banned him from working in regulated financial services for his part in a scheme that defrauded leading London market insurers of more than £2 million. Whilst not a participant in the fraud, as a director of Surety Guarantee Consultants Limited (SGC), Williams deliberately ignored his responsibilities as an approved person, turning a blind eye despite clear warnings about the true nature of the scheme. SGC was established in 2004 to write a form of insurance known as surety bonds.

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With effect from 14 December 2010, Financial Services Authority (FSA) updated that the authority prohibited William James Coppin from performing any function in relation to any regulated activity carried on by any authorised or exempt person or exempt professional firm.

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