The FCA and PRA have dropped plans to ban and fine a former CEO - accused of paying his wife excessive sums to avoid tax - following a damning Upper Tribunal judgment.

The FCA has banned indefinitely five individuals involved in an illegal investment scheme which ripped off elderly and vulnerable investors.

The FCA has barred IFA firm Frensham Wealth of Surrey from carrying out any regulated activities following the conviction of director Jon Frensham (formerly known as Jonathan James Hunt) for a child sex offence.

The FCA has banned financial adviser Omar Hussein and fined him £116,000 for “reckless and unsuitable” pension transfer advice.