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FSA bans five, imposes one of biggest fines
17 August 2010
The UK Financial Services Authority has banned five individuals for insurance fraud. It has also imposed one of its largest ever fines of £150,000 ($233,755) on one of these individuals and £50,000 on another.
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FSA
Andrew Jeffery
Jeffery Flanders Consulting
Barrie Duncan Aspden
Orion Direct
Peppercom
Melanie Aspden
Gaenor Clayton
Paul Willment
The UK Financial Services Authority (FSA) has banned five individuals for insurance fraud. It has also imposed one of its largest ever fines of £150,000 ($233,755) on one of these individuals and £50,000 on another.
Andrew Jeffery, director of Jeffery Flanders Consulting has been banned and fined £150,000 for failing to put in place insurance policies appropriately or, in some cases, at all, despite collecting payment from customers. He also knowingly forged documentation and correspondence potentially to mislead insurance companies.
Barrie Duncan Aspden of...
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