FCA gives Keydata boss two weeks to pay £76m fine

Owen to pay £3m

Hannah Godfrey
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The FCA may recover the outstanding amount as debt owed by Ford if he failes to pay the £76m by 1 February
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The FCA may recover the outstanding amount as debt owed by Ford if he failes to pay the £76m by 1 February

The Financial Conduct Authority (FCA) has given Keydata boss Stewart Ford until 1 February to pay the £76m fine he was confirmed as having to pay last November.

An Upper Tribunal upheld bans and fines the FCA had given to Ford and Mark Owen - the respective former CEO and sales director of Keydata Investment Services.  In a decision noticed published by the FCA on Wednesday (16 January), the regulator said that, if Ford failed to pay the £76m in full by 1 February, it may recover the outstanding amount as debt owed by him. A separate decision notice, also published today, confirmed Owen must pay his £3m fine by 1 February, or this money could also be recovered by the FCA as outstanding debt. Both men are banned from carrying out any regulated...

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