So these guys have, quite rightly, gone to prison for 5 and 8 years for pocketing clients’ funds. Now, quite rightly, the regulator has banned them from giving investment advice. The issue, I’d say, is that for 8 years they were able to continue to take in new money, spend it on private jets and yachts and stay authorised; while honest, law-abiding advisers are terrified they may incur the FCA’s wrath if the wording is wrong in reports to clients or files are not in the correct date order. Anyway, their clients have been compensated. Via the Financial Services Compensation Scheme. Which we fund. But I’m not bitter.
“Platforms call for UK government to resist launching ‘retrograde’ British ISAs”
There is a school of thought which might say that, should you wish to revive and encourage investment in the UK Stockmarket, a starting point might be the reversal of Brexit.
