The Financial Conduct Authority has fined hedge fund chief investment officer Corrado Abbattista £100,000 for market abuse and banned him indefinitely from performing any regulated activity functions.

The Financial Conduct Authority has banned an ex-financial adviser Shruti Patel who stole £169,000 and operated in the sector under six aliases.

The FCA has today banned indefinitely two directors of an IFA firm for their roles in submitting “false and misleading information” about customers’ high net worth status when making SIPP applications.

The FCA has decided to permanently ban the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors.