FCA apologises to Scottish boat insurer Stuart Forsyth after

Two years ago, the remote Scottish fishing town of Buckie was rocked by scandal when it became the centre of an alleged tax ruse.
Stuart Forsyth, a well-known member of the community who ran a boat insurance company, was accused by the City of London's two main watchdogs of funnelling around £200,000 of his salary to his wife to cut his tax bill.
The Financial Conduct Authority (FCA) and the Bank of England's Prudential Regulation Authority (PRA) fined him £154,498, and banned him from working in the regulated sector.
Unlikely setting: Stuart Forsyth, a boat insurer from the remote Scottish fishing town of Buckie (pictured), was accused of funnelling around £200,000 of his salary to his wife

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