It is not hard to see why George Robert Piggott, an IFA banned from working in the financial services industry by the Financial Services and Markets Tribunal of the Financial Services Authority (FSA) earlier this month ,was described by the FSA as ” not a fit and proper person as required by the Financial Services and Markets Act 2000.”
The Tribunal found that in his dealings with customers and in the courts, Mr Piggott “knowingly relied on forged documents, recommended lying to an insurance company and threatened some clients with litigation and verbal abuse. He also threatened a former employee with physical violence. Mr Piggott also repeatedly failed to implement accurately clients’ instructions from clients and they had difficulty contacting him. He gave false and incomplete information to prospective employers and to the FSA, including an inaccurate CV, a bogus reference, and inaccurate details on applications. Mr Piggott also left behind a trail of unpaid debts. He persistently failed to cooperate and be open with the FSA.”
“Our investigations concluded that Mr Piggott posed a serious risk to consumers and through the information provided by some of his clients we have been able to ban him from undertaking further regulated activities,” explained Margaret Cole, Director of Enforcement at the FSA.
Piggott’s name will appear on the list of prohibited individuals which is publicly available on the FSA’s website.