Stewart Ford, who through Keydata created a £2.8bn financial empire selling ‘death bonds’, appealing against the fine by the City regulator
A financier has been hit with a record £75m fine after the collapse of his business left investors nursing losses of hundreds of millions of pounds.
The fine levied on Stewart Ford, founder of collapsed company Keydata, is nearly twenty times the previous highest fine against an individual, by the city regulator, the Financial Conduct Authority. The watchdog also fined the firm’s sales director £4m and the compliance officer a further £200,000 and banned the trio from working in financial services again.
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