Firm fined (From The Northern Echo)

Firm fined

9:55am Friday 3rd September 2010 in

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THE Financial Services Authority has fined Moneywise IFA Limited (Moneywise) £19,600 for failing to have sufficiently robust compliance arrangements for the investment advice it gave customers.

The investigation found that Moneywise did not ensure its compliance arrangements evolved as the business grew, the firm did not have robust arrangements for training advisors and ensuring suitability reports were clear, fair, and not misleading.