A Freedom of Information request submitted by Financial Planning Today showed that three were listed as “no longer authorised” this year and four last year, in relation to their criminal convictions.

We asked for details of those who were reclassified as “no longer authorised” between 20 April 2017 and 20 April 2018.

Ex-Co-Op chairman Paul Flowers was one of those who had his authorisation removed in March this year, despite being convicted of illegal drug possession four years ago, in 2014.

Alok Dhanda was another individual prohibited following convictions in 2014.

His status was switched to “no longer authorised” after admitting on 22 September and 28 November of 2014 to 37 counts of fraud.

Others now excluded included Adam Lancelot, who was axed “following his admittance that on two occasions he deliberately failed to disclose two criminal convictions in regulatory applications to the Authority.”

Damian Frank Clarke, was prohibited following a successful conviction on 15 March this year of nine counts of insider dealing.

The complete list is compiled in the table below.

An FCA spokesman said of the classification: “No longer authorised [means] firms in relation to whom all permissions have been removed or withdrawn.

“The reason is not published on the Financial Services Register.”