The Financial Services Authority (FSA) has cancelled a London adviser's permission to carry out regulated activities after he failed to pay fees.
Peter Henry Stow of The Grove, London, has been given several notices over fees and levies of £1,089, but failed to answer any of them.
The initial warning notice was sent out on March 4th, with a decision notice then being published on April 22nd. Mr Stow then failed to refer the issue to the Financial Services and Markets Tribunal within 28 days.
In a final notice, the FSA added: "This failing, which is significant in the context of your suitability, leads the FSA to conclude that you are not conducting its business soundly and prudently and in compliance with proper standards and that you are not a fit and proper person."
Details of the move have come after the FSA banned a former employee at Seymour Pierce, John White, from working in the industry after he committed fraud.