The Financial Conduct Authority (FCA) has today published a Decision Notice in respect of Mr Andrew Tinney, formerly Chief Operating Officer of Barclays Wealth and Investment Management (BWA). This sets out the FCA’s finding that Mr Tinney should be publicly censured and banned from carrying out any senior management or Significant Influence Functions in any regulated financial service provider.
Mr Tinney disputes the FCA’s decision and has referred the matter to the Upper Tribunal at which the FCA and Mr Tinney will be able to present their cases. Accordingly, this decision notice has no effect pending the determination by the Tribunal. In relation to the FCA’s decision to ban Mr Tinney from carrying out any senior management or Significant Influence Functions in any regulated financial service provider, the Tribunal will determine whether to dismiss the reference or remit it to the FCA with a direction to reconsider and reach a decision in accordance with the findings of the Tribunal. As regards the public censure, the Tribunal will determine what is the appropriate action for the FCA to take in relation to the matter. The Tribunal’s decision will be made public on its website.
Notes to editors
- The Decision Notice for Andrew Tinney[1].
- On 1 April 2013 the Financial Conduct Authority (FCA) became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA)
- 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
- Find out more information about the FCA[2]