The former chairman of insurance broker Hoodless Brennan has been reinstated as a fit and proper person to work in financial services, according to a report. This follows an appeal against a FSA ruling.
Geoffrey Hoodless had been barred by the FSA, but the report said he has won an appeal made to the Financial Services and Markets Tribunal.
Hoodless stood down as chairman but retains links with the broker, which specialises in small commercial insurance, the report said.
The tribunal found Hoodless was guilty of misjudgement over a shares placing in March 2000 and had not taken sufficient care to be truthful to the FSA when it came inquiring, said the report. It added the court had decided this did not warrant a job ban.
Sean Blackburn, former chief executive at Hoodless Brennan, who was also barred by the FSA, failed in his appeal, the report concluded.
