FSA bans ICM for practices which put consumers at risk
The Financial Services Authority (FSA) has cancelled ICM Group's permission to carry on regulated activities after it found that the firm had failed to pass on client premiums to insurers, leaving clients potentially uninsured. In addition, ICM had used client money to run the day-to-day activities of its business.
As a result of its investigation, the FSA also banned the company’s two directors Ian Paul Ruff and Jon Uglow Batchelor from conducting any further regulated activities after finding them not fit and
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