FSA set to crack down on fraudulent brokers

Brokers could face a serious crackdown by the Financial Services Authority (FSA) after it admitted it had concerns over the number of brokers that have been found conducting fraudulent activities since the implementation of FSA regulation.

A spokeswoman for the regulator said that, although it had not yet specifically focused "any work" on fraud against brokers, it had become increasingly aware of incidents of fraud committed by brokers.

She explained: "The instances of fraud appear to be

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