The Financial Services Authority has banned independent financial adviser, George Robert Piggott, from all regulated activities in the financial services industry.
The Financial Services and Markets Tribunal found that in his dealings with customers and in the courts, Mr Piggott knowingly relied on forged documents, recommended lying to an insurance company and threatened some clients with litigation and verbal abuse.
He also threatened a former employee with physical violence, failed to accurately implement clients instructions, gave false and incomplete information to prospective employers and to the FSA, including an inaccurate CV, a bogus reference, and inaccurate details on applications.
He left behind a trail of unpaid debts and persistently failed to cooperate with the FSA.
On January 2 2007 the tribunal reached a unanimous decision that he was not a fit and proper person as required by the Financial Services and Markets Act 2000.
Margaret Cole, director of enforcement at the FSA, says: One of the FSA’s statutory objectives is to secure the appropriate degree of protection for consumers and we take robust action when we discover financial advisers who are attempting to take advantage of their clients’ interests.
“Our investigations concluded that Mr Piggott posed a serious risk to consumers and through the information provided by some of his clients we have been able to ban him from undertaking further regulated activities.”
Mr Piggott’s name will appear on the list of prohibited individuals which is publicly available on the FSA’s website.