The FCA has published a decision notice in respect of Jon Frensham (formerly known as Jonathan James Hunt), an independent financial adviser and sole director at Frensham Wealth Limited.
In March 2017, Mr Frensham was convicted of attempting to meet a child following sexual grooming. He committed this offence whilst he was an approved person and was sentenced to 22 months’ imprisonment, suspended for 18 months.
Given the nature of the offence, the FCA considers that Mr Frensham poses a risk to consumers and to confidence in the financial system and so has withdrawn his approval to perform senior management functions and has imposed a prohibition order on him.
Mr Frensham has referred the decision notice to the Upper Tribunal and therefore the action outlined by the FCA is provisional and will have no effect pending the Tribunal’s determination of the case.