FCA bans former Energysave Central director
The UK Financial Conduct Authority (FCA) has decided to make an order prohibiting Jason Rowan from performing any function in relation to any regulated activity carried on by an authorised person, exempt person or exempt professional firm, pursuant to s56 of the Act.
Between 26 May 2017 and 12 March 2018 Mr Rowan was approved to perform the CF1 Director controlled function at Energysave Central Limited, a firm previously authorised by the Authority, but which is now dissolved. Between 29 June 2017 and 7 August 2017, Mr Rowan was also approved to perform the CF1 Director (AR) controlled function at Energy Save Glass Limited (now dissolved), an appointed representative of Energysave Central Limited.
On 29 June 2023, Mr Rowan was convicted at Nottingham Crown Court of the following offences:
- One count under the Fraud Act 2006 of conspiracy to dishonestly make false representation to make gain for himself or another or cause loss to another or expose another to risk of loss;
- Three counts under the Companies Act 2006 of carrying on any business of a company with intent to defraud creditors or any other fraudulent purpose; and
- One count under the Proceeds of Crime Act 2002 of acquiring, using or possessing criminal property.
Mr Rowan committed these offences over a four-to-five year period between 2014 and 2019, including whilst he was an approved person. He was sentenced to 7 years’ imprisonment, was required to pay a victim surcharge of £120 and subject to a confiscation order of £44,826.69. He was also disqualified from acting as a company director for a period of 10 years in accordance with section 2 of the Company Directors Disqualification Act 1986.
The Authority concluded that Mr Rowan is not a fit and proper person to perform any function in relation to any regulated activity carried on by an authorised person, exempt person or exempt professional firm. Mr Rowan’s conviction demonstrates a clear and serious lack of honesty and integrity such that he is not fit and proper to perform regulated activities.
The FCA found that it is appropriate to take this action to advance its consumer protection and integrity objectives.
