The regulator said it had banned Burrows for not behaving in a “fit and proper” manner, after being caught evading paying his train fares over several years.
It was revealed that Burrows avoided paying his fare for five years, saving as much as £43,000 in the process.
Instead of buying an annual season ticket costing £4,500 a year or purchasing a daily ticket worth £21.50, Burrows would avoid buying a valid ticket at his home station and used his Oyster card at the end destination to pay just £7.20 a day.
The former BlackRock director was stopped by a Revenue Protection Officer at the exit gates of London Cannon Street Station on 19 November 2013.
He admitted evading his train fare on a number of occasions, despite being aware he had been breaking the law. He also said he had not informed his employer of his actions.
Burrows settled out of court in order to protect his identity, agreeing to pay £43,000, before the FCA became involved. BlackRock immediately suspended him, and he later left the company.
In August, BlackRock said in a statement: “Jonathan Burrows has left BlackRock. What he is alleged to have done is totally contrary to our values and principles.”
Commenting on the ban, Tracey McDermott, director of enforcement and financial crime, said: “Burrows held a senior position within the financial services industry. His conduct fell short of the standards we expect.
“Approved persons must act with honesty and integrity at all times and, where they do not, we will take action.”
