Former RFA pledges to stop advising

Stephen Duff signed the agreement with the FMA earlier this month.

He came to the authority's attention in March 2011, when, trading as Financial Vision, he was registered on the Financial Service Providers Register to provide wholesale or generic financial advice services.

He was a registered financial adviser but the FMA was concerned that he was operating as an authorised financial adviser without authorisation, and his conduct was in breach of the Financial Advisers Act.

Duff accepted that he was not allowed to continue and in 2014 sold his client base to advice firm Newton Ross.