The Financial Conduct Authority has banned 3 financial advisers from working in financial services indefinitely - including one in jail for sexual assault - following findings of misconduct.

Russell David Jameson, Mark Horsey, and Frank Cochran have all been convicted separately of serious non-financial offences while working in the financial services sector.

Mr Cochran was a director and majority shareholder of Wolverhampton-based FSC Investment Services.

He was a former high profile Financial Planner who worked with celebrity clients and appeared on TV.

In April 2018 he was convicted of sexual assault, engaging in controlling and coercive behaviour and an offence contrary to the Protection from Harassment Act 1997. These offences were committed while he was an approved person. Mr Cochran was sentenced to seven years’ imprisonment and required to sign the sex offenders’ register.

FSC Investment Services has since gone into administration after it emerged that despite being jailed Mr Cochran was back in charge of his old advisory firm. 

Mr Jameson was a financial adviser at an authorised firm, Essex-based David Jameson Limited. In July 2018 he was convicted of serious criminal offences involving the making, possession and distribution of indecent images of children. He received a five-year prison term as well as having to sign the sex offenders’ register.

Mr Horsey was the sole director and shareholder of an authorised financial advice firm and had been involved with a number of firms during his career.

In September 2018 he was convicted of voyeurism. He committed the offence whilst he was an approved person and was sentenced to nine months’ imprisonment suspended for 18 months, required to complete 100 hours of unpaid work and 25 days of rehabilitation activity, and required to sign the sex offenders register.

Mark Steward, executive director of enforcement and market oversight at the FCA, said: “The FCA expects high standards of character, probity and fitness and properness from those who operate in the financial services industry and will take action to ensure these standards are maintained.”