The former Morses Club boss, who left the doorstep lender amid a stock-dealing controversy, has quit his role at an industry association linked to the city’s regulator.
Paul Smith’s membership of the Financial Conduct Authority’s Smaller Business Practitioners Panel may have been uncomfortable given the circumstances surrounding his exit from Morses.
He left the company abruptly in February, the day Morses issued a profit warning that sent its shares down nearly two-thirds. The company announced at the time that Smith, 55, had sold almost £200,000 of Morse’s shares days ago. The sale had not been approved by the lender, who said it was notified of the stock deal the day after it was made and “did not receive prior notice of it