On 20 May 2021, the Financial Conduct Authority (FCA) announced it had commenced criminal proceedings against Ian James Hudson in relation to three charges following an investigation into unregulated advice.
Criminal Proceedings | Rosenblatt’s Financial Crime Team
Mr Hudson appeared at Westminster Magistrates’ Court in relation to three charges, namely, carrying on a business (Richmond Associates) with the intention to defraud creditors, carrying out regulated activities (advising on investments), and accepting deposits without authorisation.
The FCA have alleged that Mr Hudson advised on investments and purported to invest deposits received from clients on their behalf between 1 January 2008 and 31 July 2019. It is a legal requirement that any individual undertaking these financial services is authorised to do so by the FCA, however during this time Mr Hudson was not. It is also alleged that Mr Hudson informed clients that the money that was deposited with his business, Richmond Associates would be invested in various financial vehicles or specific schemes but this was not always the case.
Mr Hudson is due to appear at Southwark Crown Court for a Plea and Trial Preparation Hearing on 17 June 2021. As this is an ongoing investigation the FCA are unable to provide any further information at this juncture. Our financial crime team will provide further updates as the matter progresses.
Rosenblatt can help
Rosenblatt has a wealth of experience in financial crime and is uniquely placed to support clients’ that are the subject of an FCA investigation and prosecution having defended one of the largest prosecutions brought by the Financial Conduct Authority.
https://www.rosenblatt-law.co.uk/services/financial-crime/#financial-crime
Contact us
Should you wish to discuss the services we offer further please contact Frances Murray from the Financial Crime team at frances.murray@rosenblatt-law.co.uk or +44 (0)20 7955 0880.
Authors
Frances Murray, Senior Associate (frances.murray@rosenblatt-law.co.uk)
Emily Russell, Trainee Solicitor (emily.russell@rosenblatt-law.co.uk)
