The Financial Conduct Authority (FCA) has banned a financial adviser, who provided consumer credit services, for repeatedly lying about her qualifications. Elizabeth Parry has been prohibited from performing any function in relation to regulated financial activity and has been fined £109,400 for “failing to be open and honest with the regulator”. Parry was authorised in May 2006 as a sole trader to conduct investment and mortgage business and, from January 2015, for consumer credit activities.

Since 2013, retail investment advisers have been required to hold a statement of professional standing (SPS) as part of changes following the Retail Distribution Review. The FCA found that Parry had lied about having her SPS documents. Parry made six misleading statements to the FCA between 2013 and 2015 pretending she had appropriate qualifications from the Chartered Insurance Institute (CII) and submitted false SPSdocuments on two occasions. Following enquiries made by the FCA in July 2015 the CII confirmed it had no record of Parry applying for, or being issued with, an SPS.......

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