In its Final Notice, the FSA said Kenneth McKenzie had failed to comply with the regulatory requirement that he notify the FSA of adequate, up to date contact details. He also failed to respond adequately to communications from the FSA.
“Kenneth McKenzie has not been open and co-operative in all his dealings [with the FSA] and has failed to comply with Principle 11 of our Principles for Business and to satisfy us that he is ready, willing and organised to comply with the requirements and standards under the regulatory system,” said the regulator.
The FSA ruled that Kenneth McKenzie “was not a fit and proper person” as had “not conducted his business soundly and prudently” or in compliance with proper standards.
Kenneth McKenzie did not refer the matter to the Upper Tribunal.