FSA fines York firm £28,000 for advice failings

It also failed to make and retain records that demonstrate the suitability of its advice and ensure that its business is conducted in accordance with FSA requirements. The FSA also found that between December 2001 and October 2007, TBO failed to adequately supervise and monitor staff providing advice to customers and arrange adequate systems and controls in relation to trust signatures. Jonathan Phelan, FSA head of retail enforcement, says: “Obtaining and clearly recording enough information from customers to ensure the advice given is suitable is an important part of treating them fair...