FCA fines investment company £6m
Simon Read is Personal Finance Editor at The Independent. He edits the Saturday Your Money section and writes the Daily Money column and Wednesday’s Midweek Money section in i newspaper. He also writes for the news and business pages of the Independent and i newspaper and is a regular money commentator on TV station London Live. He has won numerous awards including Consumer Finance Journalist of the Year.
Thursday 06 June 2013
The investment company Sesame has been fined £6m by the Financial Conduct Authority for giving poor advice and having lax controls.
It also fined the firm for failings over advising 426 customers to invest more than £6.1m with the collapsed Keydata. Sesame did not properly monitor representatives between 2005 and 2009.
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