FSA maintains a tough stance with small firms on minimum standards
The Financial Services Authority (FSA) said today that it had maintained a tough stance towards small firms that failed to meet its minimum standards in 2006/07. The FSA has minimum requirements or threshold conditions that all firms must fulfil in order to become and remain regulated.
Figures show that the FSA cancelled the permissions of 151 small firms in 2006/07.
The majority of small firms who failed to fulfil the threshold conditions did so for not submitting their Retail
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