FCA bans individual for failing to disclose conviction

The FCA has banned Graham Lilley, formerly an authorised sole trader, from carrying on any regulated activity carried on by any person and has cancelled his permissions. It discovered that Mr Lilley had been convicted of an offence under the Fraud Act but failed to tell the FCA of the conviction. As a result, it does not regard him as fit and proper as his convictions show a clear and serious lack of honesty and integrity. The FCA said it had taken into account all relevant factors, such as the relevance and materiality of the offence and the risk Mr Lilley would pose to consumers, financial institutions and confidence in the financial system.

Emma Radmore