In passing sentence, Deputy District Judge Malins said Mr Gray's offences involved "sustained dishonesty", there was "no question that custody was appropriate" and that these were "absolutely disgraceful" offences.
This is the first time the Financial Services Authority (FSA) has prosecuted an individual for providing false information in an application for approval or authorisation.
Graeme Ashley Fenn, Director of Permissions, Decisions and Reporting at the FSA said: “Mr Gray’s actions were dishonest and a deliberate attempt to undermine the FSA’s approval process. Our action in this case should deter others from distorting the truth when applying for authorisation and help protect consumers from the risk of being given unsuitable advice.”
Mr Gray has also been ordered to pay £750 towards the FSA’s costs and will be supervised by the Probation service for 18 months.
