FCA bans director following grievous bodily harm conviction

The FCA has banned Mr Ari Harris from working in financial services.

In July 2020, Mr Harris was convicted of inflicting grievous bodily harm without intent after stabbing a man twice in the neck. He was sentenced to 3 years' imprisonment in July 2022.

Mr Harris and Reeds Motors Ltd (the firm), of which he was sole director, deliberately failed to notify the FCA of his offending, conviction and custodial sentence, despite obligations to do so. They deliberately provided false and misleading information to cover up the fact that he was in prison.

Following an application in October 2022, the FCA asked the firm why it needed an additional approved person. Both Mr Harris and the firm stated that this was required as Mr Harris was currently overseas and looking into a business abroad. Mr Harris continued to mislead the FCA during a telephone call, failing to mention that he was actually in prison at the time.

The FCA decided to remove Mr Harris's approval to perform the senior management function at the firm and impose a ban which prevents him working in financial services in the future. The FCA has also cancelled the firm's permissions.

Therese Chambers, executive director of enforcement and market oversight said:

'These repeated efforts to conceal Mr Harris' violent criminal conviction and incarceration clearly show a shocking lack of honesty and integrity. This ban is fully warranted.'

Notes to editors

1. Read the Final Notice for Mr Harris (PDF)
2. Read the Final Notice for Reeds Motors Ltd (PDF)
3. Mr Harris is prohibited from performing any function in relation to any regulated activity carried on by an authorised person, exempt person or exempt professional firm.
4. The decision was made by the FCA's Regulatory Decisions Committee.
5. Regulated firms and individuals subject to the Senior Managers and Certification Regime have an ongoing obligation to disclose any information of which the FCA would reasonably expect notice. This includes matters that are material to an approved person's fitness and propriety.

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