Request a Demo Today

Release Date: 13th March 2015

To access the original FCA document, click here.


Sam Kenny, the former chief executive of Gracechurch Investments Limited, has been fined £450,000 and banned from holding any position in the financial services industry by the Financial Conduct Authority (FCA). Kenny led the firm when it engaged in widespread mis-selling of small-cap stocks through pressure, misrepresentation, and unsuitable advice.

Key Points:

Misconduct Details:

FCA’s Position:

Georgina Philippou, acting director of enforcement and market oversight at the FCA, emphasised that Kenny’s actions were serious, deliberate, and sometimes dishonest. His behaviour negatively impacted customers, who were pressured into buying risky stocks, and he attempted to cover up misconduct by misleading the FCA.

Key Takeaways for Other Firms:


This case highlights the FCA’s commitment to holding senior executives accountable for misconduct and reinforces the importance of maintaining high ethical standards and transparency in the financial services industry.

Back to the Dear CEO letter archives.