The FCA has permanently banned Mr. Ari Harris from working in financial services.

In July 2020, Mr. Ari Harris was convicted of inflicting grievous bodily harm without intent after stabbing a man twice in the neck. He received a three-year prison sentence in July 2022.

Despite being legally required to inform the FCA of his conviction and sentence, Mr. Harris and his company, Reeds Motors Ltd, failed to do so. Instead, they provided false and misleading information to hide the fact that Mr. Harris was serving time in prison.

When the FCA questioned the firm in October 2022 about their need for an additional approved person, Mr. Harris claimed he was overseas pursuing business opportunities. He continued this deception during a phone call with the FCA, neglecting to mention his incarceration.

As a result, the FCA revoked Mr. Harris’s authorization to hold a senior management position and imposed a permanent ban, preventing him from working in financial services. The FCA also cancelled Reeds Motors Ltd’s permissions.

Therese Chambers, Executive Director of Enforcement and Market Oversight at the FCA, stated:
“These repeated efforts to hide Mr. Harris’s violent conviction and imprisonment demonstrate a shocking lack of integrity. This ban is fully justified.”