CompaniesInTheUK

STEPHEN PETER WHITTAM

2 current appointments · 1 resigned

Director disqualification 1

A record on the Insolvency Service's register of disqualified directors matches this person's name and a company they were an officer of. Companies House publishes no reliable person identifier, so confirm on the official register before relying on it.

Stephen Peter Whittam

8 Years 0 Month(s)
Same company (no. 06627977) Same month of birth Name matched
Disqualified from
2020-01-27
Date of birth on record
September 1961

Stephen Whittam (Mr Whittam) failed to ensure that Strategic Wealth UK Limited (Strategic) as a Financial Conduct Authority (FCA) Principal complied with its obligations to adequately monitor the activities of its Appointed Representative (AR), Synergy Wealth Limited (Synergy) resulting in compensation payments by the Financial Services Compensation Scheme (FSCS) to Synergy’s customers of £2,395,505, in that:<br>Strategic was authorised by the FCA as a Principal on 5 November 2008;<br>Principal firms are required by the FCA make sufficient checks on ARs to ensure they are financially stable and competent;<br>A Principal is also responsible for the AR in respect of; o products they sell or arrange o any advice they give to customers o ensuring they deliver the 6 'treating customers fairly' outcomes, like a directly authorised firm would;<br>The FCA requires a written contract between the Principal and the AR documenting the arrangement;<br>On 10 February 2016, Synergy, of which Mr Whittam was a director, was registered as an AR of Strategic with the FCA;<br>No written contract was put in place between Strategic and Synergy;<br>Despite having concerns during trading and asking the operating director of Synergy to stop taking on new business in June 2016, Strategic failed to take adequate steps to monitor the trading activity and compliance of Synergy;<br>Strategic did not remove Synergy as an AR nor did it inform the FCA of its concerns;<br>Following a request by the FCA for sight of the New Business Register in November 2016 Strategic became aware of a further 150 new customers;<br>As a result of Strategics’ failure to monitor the activities of Synergy, the FSCS have received at least 256 complaints from customers of Strategic as Principal. Of those complaints, 175 have been upheld of which 162 relate to Self-Invested Personal Pensions (SIPP), due to; o negligent advice being provided to customers o failing to exercise a duty of care when delivering advice o customers circumstances not being considered in the advice given o customers investment experience, capacity for loss and attitude to taking financial risks were not assessed<br>The FSCS have paid compensation of £2,395,505.

Details

Occupation
BUSINESSMAN
Nationality
BRITISH
Country of residence
GIBRALTAR
Date of birth
September 1961
Correspondence address
25 MOORGATE, LONDON, EC2R 6AY

Track record

3

companies, the first appointed in 2002. All 3 are now dissolved.

Appointments 3

Why these appointments?

Companies House does not publish a reliable identifier for a person. We group appointments by name and date of birth, so this list may be incomplete — the same person can appear under a different spelling or with no date of birth recorded.

Records that may be the same person 1

These are separate Companies House records that share details with this one. Companies House does not publish a reliable person identifier, so they may or may not be the same individual. Check before relying on this.