FCA has confirmed the decision of the Upper Tribunal to uphold FCA's decision to fine Andrew Jeffery £150,000 and ban him for insurance fraud. FCA found Mr Jeffery had kept clients' premiums without passing them to the underwriter so the clients either did not have, or risked not having, appropriate cover. He also wrote to insurers purporting to be his clients, deceiving them into meeting claims for which he had not sent them a premium. Further, he sought to evade FCA's requests for information. His firm had its permission cancelled in January 2010. (Source: FCA Confirms Insurance Broker Fine and Ban)