The FCA has banned a rogue financial adviser who cheated dozens of victims, many of them vulnerable, and is now serving an eight year sentence in prison.

A Wolverhampton financial adviser has been banned for 8 years after clients lost £7m due to poor pension investment advice involving SIPPs.

The FCA has reduced a £93,800 fine imposed on pension adviser Lloyd Pope, a former director of now dissolved firm TailorMade Independent Ltd, by approximately £70,000.

The FCA is to ban the ‘mass marketing’ of speculative mini-bonds following the recent debacle which saw mini-bond provider London Capital & Finance go bust earlier this year owing £236m to 14,000 bondholders.