FSA cracks down on unauthorised advice

The Financial Services Authority has shown it will crack down on accountancy firms which are not authorised to do financial services business after successfully prosecuting officials at two Midlands firms. The accountancy firms, Dobb White & Co and Morris White & Co, were not authorised by the FSA to undertake financial services, but FSA evidence in the High Court suggested that in the region of $18 million had been taken from investors and placed in a potentially unlawful investment scheme. "The FSA has been working together with the Serious Fraud Office and the Leicestershir...