Ex-CEO of life insurer wins appeal over regulator fines

Mark Battersby
clock • 3 min read

The ex-chief executive of a small Scottish mutual life office has won his appeal at a tribunal where he was accused by the UK's Financial Conduct Authority and the Prudential Regulation Authority of transferring around £200,000 of his salary to his wife to reduce tax. The two regulators had fined Stuart Forysth in relation to when he was chief executive of Scottish Boatowners Mutual Insurance Association, which specialised in insuring fishing boats, a total of £154,498, and banned him from working in the regulated sector. But they had to apologise after a judgement from the Upper Trib...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?