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Former Finance Director Of Northern Roch Banned

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Northern Rock finance boss banned for hiding arrears

The misreporting of mortgage arrears led to false picture of Northern Rock's strength Northern Rock's former finance director, David Jones, has been fined and banned by the Financial Services Authority (FSA) for his part in the misreporting of mortgage arrears.

The FSA fined Mr Jones £320,000 and banned him from performing any function in relation to any regulated activity.

The authority said he had misreported mortgage arrears at the bank.

Mr Jones is now the third former executive from Northern Rock to be banned and fined by the watchdog.

In April, two others - the former deputy chief executive David Baker and the former credit director Richard Barclay - were fined a total of £650,000 by the FSA for failing to ensure accurate financial information.

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Nearly 3 years since they went t1ts.

* Northern Rock

* B&B

* Halifax bank of Scotland

* Royal Bank of Scotland

£1 trillion in capital, bailouts, guarantees, shareholders wiped out, economy f*cked, bill pinned on taxpayer etc etc....

How many criminal prosecutions?

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Bit more info


After defrauding Investors and depositors his arrogant defence is;

Jones said: "I accept that I did not ensure that information on residential arrears prepared and presented by others was corrected to include certain accounts known as 'pending possession cases'. However, I consider that the FSA's conclusions and imposed penalty are both unfair and disproportionate".

"I will now put this matter behind me and move on. I intend to pursue opportunities either in an advisory or full-time basis building on over 30 years' experience in finance."

Wonders - what would they 'uncover' if they looked thru a trail of his previous 'jobs' in finance?

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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