Official statement from the FCA
The FCA has banned director Jon Frensham (formerly known as Jonathan James Hunt) from performing any regulated activity.
The FCA found Mr Frensham, an independent financial adviser and the sole director at Frensham Wealth Limited, lacks the integrity to work in financial services.
In March 2017, Mr Frensham was convicted of attempting to meet a child following sexual grooming. He committed this offence whilst he was an approved person, and whilst on bail for a similar offence. Mr Frensham was sentenced to 22 months’ imprisonment, suspended for 18 months.
The FCA also found Mr Frensham failed in his obligation to be open and transparent with the FCA in failing to inform the FCA about his arrest, being remanded in custody in respect of the offence which led to his conviction, and his failure to inform the FCA of the decision by the Chartered Insurance Institute (CII) not to renew his Statement of Professional Standing and to expel him from membership.
Given all of these circumstances, including his conviction for a serious offence, albeit one not connected to financial dishonesty, the FCA considers that Mr Frensham is not a fit and proper person to perform any function in relation to any regulated activity carried on by any authorised or exempt persons or exempt professional persons because he lacks integrity and good reputation.
The FCA previously published a Decision Notice against Mr Frensham in March 2021, which Mr Frensham referred to the Upper Tribunal. The Upper Tribunal unanimously dismissed Mr Frensham’s reference on 31 August 2021.