The FCA has imposed a reduced fine of £60,000 on Alistair Rae Burns and made an order banning him from performing any senior management function in financial services.
The Upper Tribunal has upheld an FCA decision to fine and ban Alistair Burns, chief executive of advice firm TailorMade Independent Limited, as it was confirmed that the FSCS compensation bill for his failed business could hit £106.5m.
Two former directors have been banned by the FCA for failing to assess the suitability of investments made through Sipps for their customers.
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