FSA censures firm over geared traded endowment policies

The FSA found the small financial advisory firm based in Richmond, North Yorkshire, failed to communicate clearly the risks of the complex investment products to its customers. Garrison is in liquidation so the FSA has instructed the liquidator to write to the firm's GTEP customers informing them they may have received unsuitable advice and could be entitled to make a claim. The FSA has waived the £35,000 fine it would have imposed so the money can be used to meet customer claims. In relation to Garrison's advice and sales to customers, the FSA found Garrison failed to communicate ...