Adviser's FSA permissions rejected for hiding past convictions

An adviser has had his application to become an approved person rejected because of his failure to disclose past convictions and a prosecution for mortgage fraud.

Trevor Oakley had applied last year to perform a number of controlled functions, including CF1 director and CF10 compliance oversight. The Financial Services Authority (FSA) has also refused an application by his firm, Celtic Business Services, to be regulated because of the inadequate information provided about its business plans directors' competence. In the final notice for Oakley, the FSA explained how, in 1970, he had been convicted of theft from a motor vehicle, taking a conveyance without authority and driving without insurance, with further driving offences committed in 1977 a...