UK FSA to punish firms over Lehman Brothers notes
The UK Financial Services Authority (FSA) has enough information about the issues relating to Lehman Brothers-backed structured products to “move forward”, according to a statement it released on September 11, which quotes Dan Waters, the regulator’s retail policy director in London.
“There is still much for us to do and we will be outlining some of the findings of the review [in October] in more detail, but I can confirm that we have found serious issues and will be taking action against firms
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