Jailed advisor banned

The FCA has publicly banned a former Investment Advisor at HHPG Limited.

On the 15th October this year, Michael Stanley Hirst, (Ref no : MSH00013) currently a prisoner at HMP Parc in Mid-Glamorgan, was given a warning notice by the FCA, followed by a decision notice on the 6th November, prohibiting him from performing any function relating to regulated activities carried out by an authorised person, exempt person or exempt professional firm. 

In May this year, Mr Hirst was convicted of 13 counts of theft, for which he was sentenced to three years in prison for each offence, to be run concurrently.

It was deemed by the regulator that he was “not a fit and proper person to perform any functions as his conduct demonstrates a lack of honesty and integrity”.

According to the Financial Services Register, Mr Hirst most recently acted as a Customer at HHPG Limited, and before that an Investment Advisor at the Margham-based insurance mediation firm, which trades in property finance, during 2007. He previously acted as an Investment Advisor at a range of institutions from 2001.

A cached version of HHPG’s website said that the company have a team of advisers who share the firm’s ethos of “helping our clients accomplish financial objectives rather than trying to sell them products.”

The order took effect from the 12th December 2014, where the regulator publicised its notice on the same day.