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FCA Bans City Fare Dodger From the Industry

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FCA bans City fare dodger from the industry - 15th Dec 2014

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​Jonathan Burrows, the City fare dodger who evaded thousands of pounds worth of train fares, has been banned from working in the financial services sector by the Financial Conduct Authority (FCA). Burrows, a former managing director at BlackRock, hit the headlines in April after it emerged he had exploited a loophole in the system that meant he avoided paying for his daily commute from Stonegate in East Sussex to Cannon Street in London. After being collared by a ticket inspector in November last year Burrows reached an out-of-court settlement with Southeastern Trains totalling nearly £43,000. Tracey McDermott, the FCA director of enforcement and financial crime, said Burrows' conduct fell short of what was expected. "Approved persons must act with honesty and integrity at all times and, where they do not, we will take action," she said. The FCA said Burrows, an approved person who held a CF30 role, had admitted he had evaded his train fare on a number of occasions

Martin Coyle, Compliance Complete