UK's FCA restricts London Stone Securities due to high fees and improper client outcomes.

The UK's Financial Conduct Authority (FCA) imposed restrictions on wealth management firm London Stone Securities, prohibiting the company from undertaking any regulated activities, charging further fees to existing clients, or taking on new clients without its permission. The FCA has expressed concerns over the firm's high fees and improper client outcomes. The firm has the right to challenge these restrictions and refer the matter to a tribunal.

July 31, 2024
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