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Release Date: 4th October 2022

To access the original FCA document, click here.


Mr Stephen John Tomlin has been fined £69,600 by the Financial Conduct Authority (FCA) and prohibited from performing any senior management or significant influence function in any regulated activity. The fine was reduced from £77,300 due to a 10% discount for early settlement. Tomlin’s regulatory failings occurred while he held the CF1 (Director) and CF10 (Compliance oversight) functions at Sigma Broking Limited from 1 December 2014 to 12 August 2016.

Key Takeaways for Other Firms:

Summary of Findings:


Stephen John Tomlin’s significant failings in governance, risk management, and compliance oversight while serving at Sigma Broking Limited resulted in substantial regulatory breaches. The FCA’s penalties underscore the importance of robust governance, thorough risk assessments, and effective compliance functions. Other firms should heed these key takeaways to prevent similar penalties and ensure the integrity of their operations and the financial system.

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