Mortgage News

Regulatory loophole lets rogue financial operators to stay in business

Monday 10th of October 2011

That's because banks, fund managers and others who deal with such advisers and broker don't have to check whether those providers are registered or not.

This appears to be a gaping hole in the Financial Service Providers (Registration and Dispute Resolution) Act 2008 which makes any financial adviser who operates without registering liable for a prison sentence of up to 12 months and/or...

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