The issue with this is one of abdication. If the LSE/FSA/DTI don't have enough on a person to bar them from operating as a director - knowing they can be sued for barring without proper cause, it is a bit rich asking a commercial organisation why they haven't barred someone on those grounds.
No idea who this chap is...he may be the biggest crook in the world but....if the authorities want him banned they should ban him. The nomad can then demand the removal from the company as sit is acting against the rules.