Julian Harris appoints new head of compliance in wake of £49,000 fine
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IFA and mortgage network Julian Harris, whose managing director and founder was this morning fined £49,000 by the Financial Services Authority, has revealed it has employed a new head of compliance.
On top of the fine Julian Harris was also banned from holding down a compliance officer role.
IFA network Julian Harris Financial Consultants, previously named Ethical Choices, was first regulated in 2001. It was joined by mortgage network Julian Harris Mortgages which was set up in 2004.
In a prepared statement the network says that it accepts and has taken onboard all the findings of the FSA staff and as a result has appointed a new head of compliance.
Harris himself, who is now listed on the FSA’s register as having a partial prohibition when it comes to providing compliance oversight, will now concentrate on the business aspects of the network’s IFA and mortgage networks.
The network says: “All remedial work and improvements to our systems and controls have taken place and we believe we have a good ongoing relationship with our FSA supervisor.
“We believe this action has put us in a stronger position than previously and we are optimistic about our future and our offering in the marketplace.”
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