FCA bans director from working in financial services after violent criminal conviction

Mr Zahedian was the sole director of an authorised consumer credit firm, Vast Cars Limited, and was approved by the FCA as a senior manager. 

In May 2020, Mr Zahedian pleaded guilty and was convicted of grievous bodily harm and possession of an offensive weapon, having attacked a security guard at a bar with a machete. 

He was sentenced to three years’ imprisonment at Lewes Crown Court. The FCA has decided to remove Mr Zahedian’s approval to perform the senior management function at Vast Cars Limited and impose a prohibition order, preventing him from working in financial services in the future. 

Mark Steward, Executive Director of Enforcement and Market Oversight said: 

'Those authorised to provide financial services are required to meet and maintain high standards of character, fitness and properness. 

'These were serious, violent criminal offences reflecting on Mr Zahedian’s character and justifying the finding that he is not a person to be working in financial services.

'The FCA will continue to uphold high standards of character and conduct for those working in financial services.'

Notes to editors

1. The Final Notice for Mr Zahedian[1] (PDF)
2. Mr Zahedian is prohibited from performing any function in relation to any regulated activity carried on by an authorised person, exempt person or exempt professional firm. 
3. The decision was made by the FCA’s Regulatory Decisions Committee. 
4. Mr Zahedian had the right to refer the matter to Tribunal. The 28-day period in which a referral can be made has now been passed. 
5. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
6. Find out more information about the FCA[2].