|
|
24 Oct 2008
The Financial Services Authority (FSA) has lodged a petition at the High Court in London to wind up Cameron Farley, the Edinburgh-based financial adviser firm it suspended last month for unauthorised dealing.
In addition, the High Court has appointed Robert Caven and James Earp of Grant Thornton provisional liquidators to take control of the company and its assets, pending the hearing of the petition, the Financial Times reports.
The FSA took the action to protect Cameron Farley’s UK consumers and depositors because the company has been accepting deposits from clients without FSA’s authorisation.
The FSA took out a court order in Scotland last month, to freeze certain Cameron Farley assets and to prevent further breaches of its regulations.
Further reading:
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
Umwanted Interference
I entered a LOAN agreement,not a DEPOSIT agreement and did not receive any investment advice. I knew it was unregulated and was prepared to take the risk, I did not expect to lose my money through the interference of an agency rushing to my protection! They have harmed a lot of people and their unhelpful manner reinforces my opinion of government.
Leave us alone to manage our own affairs. I know no-one will take any notice but this really is a ridiculous, stressful intrusion.
Posted by: Geoff Rowley, 14 Nov 2008 | 00:00
TOTALLY AGREE
What can one say.
The FSA in this case are causing hardship for innocent people by their heavy handed intervention.
Posted by: Chris Durham, 14 Dec 2008 | 00:00
cameron farley all money concerns
what i dont understand is if the fsa has frozen all moneies should not be affected if in euro we have made a little if in gbp we have not lost any so why do we get told may not receive any back if you know let me know ??????????
Posted by: alan p, 23 Feb 2009 | 00:00