FSA has banned Gerald Classey, a partner at First Colonial Investments LLP, for failings including failure to exercise proper oversight of the stockbroking business of the firm and not telling the FSA about previous convictions. The firm was an appointed representative which promoted high-risk securities to retail clients by telephone. Mr Classey was the only significant influence function holder at the firm. FSA found significant compliance failings which Mr Classey should have been aware of. Mr Classey also had minor convictions that he did not disclose to FSA. (Source: FSA/PN/150/2010 and Final Notice)