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The UK’s Financial Conduct Authority has banned former financial industry figures Russell David Jameson, Mark Horsey, and Frank Cochran from working in the sector following findings that they are not “fit and proper.”
Each of them had been convicted of serious non-financial indictable offences while working in the financial services industry, the FCA said in a statement yesterday.
Jameson was a financial advisor at an authorised firm and was approved by the FCA to hold various significant influence and customer-facing functions at the firm.
In July 2018, Jameson was convicted of serious criminal offences involving the making, possession and distribution of indecent images of children. Between January 2013 and August 2017, Jameson made thousands of indecent photographs of children and had thousands of such images in his possession, including films and images of the utmost severity. These offences were committed whilst Jameson was an approved person.
Jameson was sentenced to five years’ imprisonment, ordered to sign the sex offenders register indefinitely, and included in the list of individuals barred from working with children or vulnerable adults.
Horsey was the sole director and shareholder of an authorised financial advice firm with permission to conduct designated investment business (including advising on and arranging deals in investments) and insurance distribution.
In September 2018, Horsey was convicted of voyeurism, contrary to the Sexual Offences Act 2003. Horsey had surreptitiously observed and video recorded his tenant having a shower without their consent. He committed the offence whilst he was an approved person. Horsey was sentenced to nine months’ imprisonment suspended for 18 months, required to complete 100 hours of unpaid work and 25 days of rehabilitation activity, and required to sign the sex offenders register.
Cochran was a director and shareholder of an authorised financial advice firm with permission to advise on pensions, mortgages and investments. In April 2018, Cochran was convicted of sexual assault, engaging in controlling and coercive behaviour and an offence contrary to the Protection from Harassment Act 1997. These offences were committed whilst he was an approved person. Cochran was sentenced to seven years’ imprisonment and required to sign the sex offenders register.