Disciplinary outcome: Stefan Barrett
Order by consent
In the matter of
Mr Stefan Barrett MAAT
Membership number
10204201
Date
24 October 2024
Misconduct
- For a two-year period ending 30 June 2023, he made direct referrals for financial products that are regulated under the Financial Services and Markets Act 2000 without authorisation from the Financial Conduct Authority (FCA) or without holding a Designated Professional Body (Investment Business) licence.
- For a two-year period ending 30 June 2023, he retained commissions totalling around £25,054 for the referral of one or more clients to an Independent Financial Advisor, without obtaining consent.
- For an unknown period to 26 June 2024, he misrepresented Bee Motion Accounting Ltd to the public as being authorised to provide services regulated under the Financial Services and Markets Act 2000 while not being authorised by the Financial Conduct Authority (FCA) or without holding a Designated Professional Body (Investment Business) licence.
Finding
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.
Order
The Investigation Team orders that Mr Stefan Barrett be:
- Fined £1,500.00
- Reprimanded for two years (24 months)
Consent
The decision of the Investigations Team shall stand as an Order of the Association pursuant to Regulations 5.2 and 5.3 of the Disciplinary Regulations.
