The UK's Financial Conduct Authority (FCA) has banned former adviser Paul Ulliott after he handled stolen goods, in a final notice decision on 15 January.
Until 21 April 2023, Ulliott was an authorised sole trader and was approved by the FCA to work within money laundering reporting from May 2016 to December 2019 and be a money laundering reporting officer between December 2019 and April 2023. He was also a director and executive director at Newland Pledge, a jewellers which he owned.
On 17 December 2021, he was tried and convicted at Kingston-Upon-Hull Crown Court for handling stolen goods. On that day, Ulliott was sentenced to two years and six months' imprisonment, ordered to pay a victim surcharge of £170, and a collection order was made against him.
The stolen goods comprised four silver tankards, a pair of swan candlesticks, a sterling silver salt and pepper pot set, a pair of Victorian silver chamber sticks and a silver salver belonging to another.
At the sentencing hearing, the judge made the following observations regarding Ulliott’s behaviour:
Ulliott's "lack of fitness and propriety due to his dishonesty and lack of integrity" led the FCA to prohibit him from carrying any regulated activity.
The FCA further said it gave Ulliott the decision notice and notified him, but he has not referred the matter to the Tribunal within 28 days of the date on which the notice was given to him.
Sign up to our Newsletter
Unlimited access to real-time news, industry insights and market intelligence
Latest Stories
Sign up to our newsletter
Unlimited access to real-time news, industry insights and market intelligence.
© Investment International | Site By Furness Media