IFA censured for investment advice failings

The FSA found systems and controls failings at the firm, that it could not demonstrate the suitability of its advice and failed to communicate with clients in a clear, fair and not misleading way. Exclusive went into voluntary liquidation on 24 May 2011. Were it not for Exclusive's financial circumstances, the FSA would have imposed a financial penalty of £60,000. The enforcement action relates to Gary John Hexley, who worked for Exclusive between 15 January 2009 and 25 May 2010, and was publicly censured and banned by the FSA on 13 June 2011 for giving customers unsuitable investment...