FCA bans former BGC executive Anthony Verrier from the financial services industry

Verrier has previously worked for two active players in institutional forex

UK regulator FCA has announced in a press release that the Authority has decided to permanently ban from the financial services industry Anthony Verrier who held a senior executive position at BCG Partners. According to the regulator there are serious concerns over Mr Verrier’s integrity and his conduct is not fitting the financial services industry.

According to director of enforcement and financial crime at the FCA Tracey McDermott as long as professionals within the industry cannot be relied upon fully the public’s trust in the financial industry might never be restored.

The permanent ban has been finally reaffirmed as the appeal that was filed with the Upper Tribunal in April 2012 has been recently withdrawn by Verrier. We wouldn’t be surprised if it was too expensive to go on fighting this battle that has already been lost a couple of years ago when he was found guilty of conspiracy to make several individuals from his former employer Tullett Prebon defect to his then employer BCG Brokers LP.

Both companies involved are active players in the institutional FX business with BGC recently receiving an SEF license, while Tullet Prebon has launched together with Integral one of the latest ECNs – tpSpotdeal.

So much for Mr Verrier’s career in the financial services industry – it was bound to happen but it just a bit too long to flatten out the details.

For a link to the full press release visit FCA’s website.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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