01 · In plain English
What happened.
The Upper Tribunal (Tax and Chancery Chamber) issued a decision dated 12 June 2026 (published 5 August 2026) in the case Alec Finch and Robert Finch v The Financial Conduct Authority. The FCA had decided to prohibit the two (formerly senior figures at AFL Insurance Brokers Limited, later Ambon Brokers) after a High Court judgment found they misused client money to fund AFL’s business, created false financial records to mislead a buyer and others, and concealed a significant client money deficit. The FCA said it would have imposed fines of £121,200 on Alec Finch and £169,800 on Robert Finch but accepted verifiable evidence that any penalty would cause each serious financial hardship, and the regulator removed them from the industry.
Summarised from the FCA's notice and press reports. The FCA's own text and documents below are the authoritative record.
02 · Enforcement details
What the Upper Tribunal decided.
Upper Tribunal Tax and Chancery decision of JUDGE MARK BALDWIN on 12 June 2026
Source: Upper Tribunal (Tax and Chancery Chamber) decision [2026] UKUT 00217 (TCC), published 5 August 2026.
03 · Press coverage
How it was reported.
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04 · Individual details
Person on the FCA register.
- Name
- Alec Finch
- Individual reference number
- AXF00022
- Register status
- Regulatory approval no longer required
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