FSA hits broker with £21k fine

The regulator reviewed 19 transactions between December 2005 and May 2006, and found that, in 11 of them, Miah had been dishonest by recording the purchase of high risk shares by customers without their permission. Clients would have only been made aware of the trades when they were sent a demand for payment. Miah also made inaccurate and misleading claims about the performance and value of the shares and failed to inform customers of the higher risks associated with buying them. His actions were considered particularly serious because they lacked integrity and exposed customers to signi...