The Upper Tribunal (Tax and Chancery Chamber) in England recently upheld a Financial Conduct Authority (FCA) finding that a former director of an insurance brokerage was not fit and proper. The FCA had originally issued a full prohibition order against the former director (preventing him from holding any function in relation to any regulated activity), as well as a fine of £20,000 for failures in due skill/care/diligence and client money handling. At Tribunal stage, the FCA requested and obtained a partial prohibition (i.e. for significant influence functions in relation to any regulated activity). The financial penalty was also halved due to mitigating personal circumstances.