FCA publishes Decision Notice against Jon Frensham
What has happened?
The FCA published in March 2021 a Decision Notice in respect of Jon Frensham, an IFA and the sole director at Frensham Wealth Limited. The FCA considers that Jon Frensham is not a fit and proper person and has decided to withdraw his approval to perform his current senior management functions and to make an order prohibiting him from performing any functions in relation to regulated activity.
In March 2017, Jon Frensham was convicted of attempting to meet a child following online sexual grooming. He committed this offence whilst he was an approved person and was sentenced to 22 months imprisonment, suspended for 18 months and, given the nature and circumstances of his offence, the FCA considers that he is not a fit and proper person to perform any function in relation to any regulated activity, since he is considered to lack the necessary integrity and reputation.
The FCA considers that Jon Frensham poses a risk to consumers and to confidence in the financial system. Therefore, the FCA considers it is appropriate to withdraw his approval to perform senior management functions and to impose a prohibition order on him.
How can we help you?
If you’d like to know more about how we can help you with any aspect of your Senior Manager fit and proper assessment arrangements, or any other regulatory compliance issues, our expert team is here to help.
Contact us today on 0207 436 0630 or email info@thistleinitiatives.co.uk.