FCA fines and bans individual for incorrect info on client cash

FCA has fined James Lewis, former CEO of Shard Capital Partners, £120,300 and has banned him for providing false information once to auditors and once to a client about the amounts of cash balances the firm held. The FCA said that on both occasions Mr Lewis knew the information was needed for the relevant client’s annual accounts which, as a result of the misinformation, were wrong.

The FCA had been considering the first issue when the firm became aware of the second and notified the FCA of it, and Mr Lewis subsequently also told the FCA.

Emma Radmore