All three were found guilty of sexual offences committed while working in the industry and were found to be not “fit and proper” to remain in the sector by the Financial Conduct Authority (FCA).
Frank Cochran, director and shareholder of an authorised financial advice firm, had the permission to advise on mortgages, pensions and investments.
He was convicted of sexual assault, engaging in controlling and coercive behaviour and an offence contrary to the Protection from Harassment Act 1997 in April 2018.
Cochran was sentenced to seven years’ imprisonment and required to sign the sex offenders register for the rest of his life. He also has an indefinite restraining order against him in respect of the victim.
The firm Cochran was a director of is now in administration after it failed to gain authorisation in July last year.
Mark Horsey was the sole director and shareholder of an authorised financial advice firm and had the permission to advise and arrange investment deals and distribute insurance.
In September 2018, he was convicted of voyeurism after it was found that he secretly watched and recorded one of his tenants without their consent as they took a shower.
He was able to record the victim from another room by positioning mirrors and a ladder, which the sentencing judge said showed signs of “substantial and significant planning”.
Horsey was sentenced to nine months’ imprisonment suspended for 18 months. He had to complete 100 hours of unpaid work and 25 days of rehabilitation activity and was also required to sign the sex offenders register for 10 years.
The FCA said he lacked “the necessary integrity and reputation required to work in the regulated financial services sector.”
Russell David Jameson, a financial adviser at an authorised firm, had a license to hold significant influence in investments and undertake customer facing duties.
In July 2018, Jameson was convicted of 16 serious criminal offences involving the making, possession and distribution of indecent images of children.
Between January 2013 and August 2017, he made thousands of indecent photographs of children and had such films and images in his possession.
It was also found that he edited the indecent images to include the faces of individuals he knew and engaged in online conversations around child abuse, while using software to disguise his activity.
Jameson was sentenced to five years’ imprisonment and ordered to sign the sex offenders register indefinitely. He has also been named on the list of individuals who are barred from working with children or vulnerable adults.
All the offences were committed while the men were approved persons and they are now prohibited from performing any function relating to any regulated activity carried on by an authorised person, exempt person, or exempt professional firm.
Mark Steward, executive director of enforcement and market oversight, said: “The FCA expects high standards of character, probity and fitness and properness from those who operate in the financial services industry and will take action to ensure these standards are maintained.”
