Former London Capital & Finance director handed £31,800 fine

Floris Jakobus Huisamen

Hope Coumbe
clock • 2 min read

A former director of London Capital & Finance (LCF) has today (13 February) been banned from working in financial services and handed a £31,800 fine.

The Financial Conduct Authority said Floris Jakobus Huisamen "recklessly signed off hundreds of promotions" while working at the disgraced mini-bond provider which contributed to thousands of investors being misled. The watchdog said the financial promotions signed off by Huisamen "presented a misleading picture" as well as making mini-bonds "appear a far more attractive investment than they were". "Huisamen signed off these financial promotions despite his own concerns about LCF's strategy," it stated. "He failed to provide proper scrutiny or sufficiently challenge senior management....

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

Deep Dive: 'Confusing' post-Brexit regulation still needs 'ironing out'

Deep Dive: 'Confusing' post-Brexit regulation still needs 'ironing out'

Impact not fully understood

Cristian Angeloni
clock 16 February 2024 • 4 min read
FCA quizzes 20 advice firms on Consumer Duty compliance

FCA quizzes 20 advice firms on Consumer Duty compliance

Focus on ongoing services

Sahar Nazir
clock 15 February 2024 • 1 min read
FCA: More than 10,000 'misleading' financial ads withdrawn in 2023

FCA: More than 10,000 'misleading' financial ads withdrawn in 2023

The watchdog records 17% surge in interventions to protect consumers

Sahar Nazir
clock 14 February 2024 • 1 min read
Trustpilot