FCA bans director who stabbed man twice and concealed he was in jail

A company director has been banned from working in financial services after stabbing a man twice in the neck and failing to notify the regulator of his conviction.

Ari Harris was reprimanded by the Financial Conduct Authority today after his conviction following the incident in July 2020.

He was found guilty of inflicting grievous bodily harm without intent after he stabbed a man twice in the neck.

Harris was sentenced to three years in jail in July 2022.

The FCA said the director and his company, Reeds Motors Ltd, where he was the sole director, deliberately did not tell the regulator about his offending, conviction and custodial sentence.

He failed to do this despite an obligation to do so, providing “false and misleading” information to cover up for the fact he was in prison.

In October 2022, the FCA asked Reeds Motors why it needed another approved person, and Harris and the company claimed he was overseas, looking into business abroad.

Harris reportedly continued to mislead the FCA during a phone call and failed to mention he was actually behind bars.

The FCA removed his approval to perform senior management at the firm and imposed a ban, preventing him from working in financial services in the future. It then cancelled the firm’s permissions.

The FCA decided to remove Mr Harris’s approval to perform the senior management function at the firm and impose a ban which prevents him from working in financial services in the future. The FCA has also cancelled the firm’s permissions.   

Therese Chambers, executive director of enforcement and market oversight at the FCA said: ”These repeated efforts to conceal Mr Harris’ violent criminal conviction and incarceration clearly show a shocking lack of honesty and integrity. This ban is fully warranted.”