Ex-Cattles FDs banned over market abuse

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The Financial Services Authority (FSA) has fined and banned three former directors of Cattles and its subsidiary Welcome Financial Services for publishing misleading information to investors about the credit quality of Welcome’s loan book.

The sub-prime lender directors acted “without integrity in discharging their responsibilities” and now face a total fine of £700,000.

James Corr, Cattles’ FD and ICAEW member, and Welcome FD Peter Miller have been fined £400,000 and £200,000 respectively. Both have been banned from performing any functions in relation to any FSA regulated activities.

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About Robert Lovell

Business and finance journalist


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    04th Apr 2012 11:11

    See what happens

    when you use the "simplified" cash accounting method

    Thanks (0)
    By jemetpl
    04th Apr 2012 13:37

    I never believed in karma until I read this.  I hope the FSA appoint suitably vicious debt collectors to get the fines.

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