FSA to ban BGC exec after Tullett Prebon staff poaching case

The Financial Services Authority (FSA) has proposed a ban for Anthony Verrier, a senior executive at BGC Partners, after deciding he is not a fit and proper person due to concerns over his honesty, integrity and reputation.

The decision follows the outcome of a High Court case where Verrier was found to have induced brokers to breach their contracts of employment with Tullett Prebon by leaving early without lawful justification. In its decision notice, the FSA said it would prohibit him from performing any function in relation to any regulated activity in the financial services industry. Verrier has referred the matter to the Upper Tribunal, where he and the FSA will each present their case. The FSA criticised some of his behaviour during the trial, pointing out that the court said he had, on occasion...