Two former advisers jailed over unauthorised advice

Two former financial advisers have been sent to prison for giving unauthorised investment advice and deceiving clients following a prosecution brought by the Financial Conduct Authority.

Gary Hexley and John Cooper, both former directors of West Midlands-based Weston Financial Services, were convicted on 23 October 2013.

Mr Hexley was sentenced to two years in prison and Mr Cooper to nine months.

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Tracey McDermott, director of enforcement and financial crime at the FCA, said: “This is a fitting punishment for two people who thought they were above the law.

“As has been demonstrated with these sentences, where individuals pose a serious risk to consumers and bring the reputation of the industry into disrepute by flouting rules and guidance - we will not hesitate to take the strongest action.”