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Regulator should take reckless brokers to court

I was shocked and appalled by the story I read recently on Mortgage Strategy Online about the Financial Services Authority banning a director of an adviser firm for reckless behaviour – encouraging clients to remortgage their properties to raise funds to invest (Mortgage Strategy Online April 6).

Such behaviour is disgusting and does the reputation of brokers no good.

A jail sentence would be appropriate in cases such as this. Why doesn’t the FSA take them to court?

Evan Owen

By email

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