Tebbutt to remain chief at Millfield despite FSA fine

Paul Tebbutt will remain chief executive of financial adviser Millfield Partnership, according to th...

Paul Tebbutt will remain chief executive of financial adviser Millfield Partnership, according to the group, despite receiving a fine from the FSA last week. The regulator fined Tebbutt £35,000 for providing misleading information in connection with Millfield's application to merge with InterAlliance. This relates to a signed letter supplied to the FSA on 30 September 2004 confirming the intention of seven directors of the merged company, including Tebbutt, to provide a guarantee of £3m supported by unencumbered assets of the same amount. According to the regulator, Tebbutt failed to en...