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June 15, 2026
The FCA has published details of two Final Notices, in relation to Andrew Currie and Peter Currie, prohibiting these individuals from performing any function in relation to any regulated activity carried on by any authorised firm, any AR or IAR, or any Exempt Professional Firm. The FCA decided that neither individual, based on the circumstances of the two cases, are not fit and proper persons to perform any function in relation to any regulated activity.
- On 22nd May 2023, Andrew Currie was convicted at Southwark Crown Court for the offences of fraud by abuse of position and converting criminal property. He was sentenced in July 2023 to a total of 2 years and 6 months imprisonment. In addition, he was disqualified from acting as a Director by way of a Court Order for a period of 10 years, until 14 July 2033.
- The offences related to his conduct while a director of Collateral (UK) Limited (“Collateral”) which did not hold any permission from the Authority to conduct regulated activities. However, the entry on the Authority’s IP Register of another company, Regal Pawnbroker Limited, which held an interim permission from the Authority, was amended by Andrew Currie’s brother, Peter Currie, to make it appear that Collateral held the interim permission. After the Authority identified that the IP Register had been changed in October 2017, Andrew Currie acted as the driving force behind the removal of funds from Collateral shortly before it went into administration. This removal of funds was to the detriment of investors.
- Also on 22nd May 2023, Peter Currie was convicted at Southwark Crown Court for the offences of fraud by false representation, fraud by abuse of position and converting criminal property. He was sentenced in July 2023 to 5 years and 6 months imprisonment. In addition, he was disqualified from acting as a Director by way of a Court Order for a period of 10 years, until 14 July 2033.
- The offences related to his conduct while a director of Collateral (UK) Limited (Collateral). Collateral did not hold any regulatory permissions to conduct regulated activities. However, Peter Currie amended the entry on the Authority’s IP Register of another company, Regal Pawnbroker Limited, where he served as a Director and which held an interim permission from the Authority, to make it appear that Collateral held the interim permission. Furthermore, Peter Currie was involved in the transfer of funds from Collateral within 2 days of the Authority highlighting the regulatory issues and difficulties facing Collateral, and after he had given undertakings to the High Court in respect of further dissipation of Collateral’s assets.
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