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Will Ashcourt Rowan's fine bring down the curtain on ‘old fashioned’ broking?
by Danielle Levy on Nov 27, 2012 at 10:49
‘They are saying this is at the forefront of their mind and is a real focus for them, and they will be taking action,’ he said.
He disagrees the old fashioned relationship-driven stockbroking model will not survive under the new regulator.
‘The FSA has said a large amount of discretion for individual advisers is not a bad thing but there needs to be controls around that,’ he added.
He also anticipates that a fear of further fines could stall M&A activity in the sector, as firms grow nervous about the legacy issues or lack of know your client (KYC) they may be acquiring.
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by Danielle Levy on Dec 04, 2013 at 11:04