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FCA slaps financial adviser with £68,300 fine for lying about qualifications

The ban should act as a 'deterrent to other senior individuals who abuse a position of trust'

The Financial Conduct Authority has banned a financial advisor from working in the industry and handed out a £68,300 for providing investment advice without the necessary qualifications. 

Simon Varley knowingly performed a controlled function “without approval” and misled his colleagues about having passed the relevant exams, the City watchdog said in its final notice, published on 15 April.

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