'Comply, don't sell', says TBN

Brokers who are considering selling their brokerages now rather thanbecoming Financial Services Authority (FSA)-compliant could end up losing50-75% of their businesses' value.

With the possibility of up to 2,000 businesses being non-compliant by thedeadline of January 14, 2005, there is a danger of the market becomingflooded by cheap, non-compliant brokerages, and if all these brokers wereto sell by 2004, the capital required to buy them would exceed £600m attoday's prices - more than is

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