A former director of the now-collapsed London Capital & Finance has been fined £31,800 by the City regulator and banned from the industry for his role in the £237.8m property investment scandal.
The Financial Conduct Authority’s decision to censure Floris Huisamen, who handled compliance for London Capital & Finance, represents the first time that the watchdog has punished an individual over what was one of the worst scandals to have hit retail investors in recent years.
Huisamen, who became a director of the company in July 2016, was responsible for signing off hundreds of financial promotions that misleadingly marketed minibonds by “making them appear a far more attractive investment than they were”, the FCA said.
