The FCA has launched criminal proceedings against Daniel Pugh over a £1.3m unauthorised investment scheme.

Two fraudsters involved in a £17.9m scam which saw the FCA Register cheated to convince investors they were legitimate have been sentenced to a combined eight years in prison. 

There was an interesting, but mostly unreported, development this week on the regulatory front which may have significant repercussions for regulated firms.

Leeds-based finance firm boss Francis Wainwright has been sentenced to seven years in prison after admitting running a £20m Ponzi scheme which cheated elderly and vulnerable investors.