FCA bans ex-broker who faked High Court evidence

A former professional indemnity insurance broker has been banned by the regulator for giving forged evidence and lying to the High Court.

Stephen Robert Allen had attempted to mislead the Financial Conduct Authority (FCA) as to the full contents of the judgment from the High Court trial in which he was found to have faked documents. He can no longer work in the industry on the grounds that he is not a fit and proper person, the Upper Tribunal found. Allen has also been accused of secretly adding a fee to the premiums charged to a law firm client, the initial reason for which the FCA had sought to ban him. During an enforcement action against him, the regulator said Allen produced a single redacted page from a High Co...