UK - The Financial Services Authority has withdrawn authorisation from 19 firms over the year to June 30 for failing to correct serious failings.
The FSAs Threshold Conditions Team, which deals mainly with small regulated firms, removes authorisation for a variety of reasons including: lack of rofessional indemnity insurance, failure to comply with ombudsman awards, and non-payment of FSA fees.
The 19 firms that have been struck off include: Oriental & African Strategic Investment Services, Keith Taylor Financial Services, Birrell Financial Services, and FT Investment & Insurance Consultants.
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