Square Mile Securities Limited

Financial Services Authority
FINAL NOTICE

To: Square Mile Securities Limited
Of: America House
No 2 America Square
London
EC3N 2LU


Date: 10 January 2008
TAKE NOTICE: the Financial Services Authority of 25 the North Colonnade, Canary
Wharf, London E14 5HS (“the FSA”) gives you final notice about a requirement to pay
a financial penalty:
1. ACTION
1.1. The FSA gave Square Mile Securities Limited ("Square Mile")("the Firm") a Decision
Notice on 8 January 2008 which notified Square Mile that, pursuant to section 206 of
the Financial Services and Markets Act 2000 ("FSMA"), the FSA had decided to
impose a financial penalty of £250,000 on Square Mile for breaches of the FSA's
Principles for Businesses ("the Principles") in relation to advising on and arranging
the sale to customers of certain higher risk securities. In particular, Square Mile
failed to:
(1) conduct its business with integrity in breach of Principle 1;
(2) pay due regard to the interests of its customers and treat them fairly in breach
of Principle 6;
(3) pay due regard to the information needs of its clients, and communicate
information to them in a way which is clear, fair and not misleading in breach
of Principle 7.

 

date added: 06/07/2012  ·  source: fsa.gov.uk

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Mis-sold Shares Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities Licence number CRM:30945

 

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A claim for mis-selling can arise if you have suffered losses as a result of negligent advice from a stockbroker or IFA.

 

  • Did you complete a fact find?
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  • Were you pressurised to buy?
  • Were you told that they owned the shares and had a mark up / mark down?
  • Were recommendations suitable?

 

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