"Authorised and regulated by the Financial Services Authority" on your stationery and website.
Is it a licence to do what you like?
I asked the FSA if it would be wise for providers to check the register to see whether the firm asking for direct cheques and money transfers can 'hold client money', they say they depend on the firm to be honest and true.
POINT, FINE, BAN!!!
Dear regulators, regulation is not supposed to be some kind of after the event insurance!!
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