Broker's trading ban
The Financial Services Authority shut down Manchester-based broker M. Young Legal Associates in Nove...
The Financial Services Authority shut down Manchester-based broker M. Young Legal Associates in November. It also prohibited Michael Young (who is also known as Mohammad Younas Yousaf), the firm's managing director and Asif Habib Malik, the financial director, from holding those roles in future. Jonathan Phelan, head of retail enforcement at the FSA, said that MYLA had exposed its customers to significant risks and potential hardship by claiming to have insurance underwriting agreements in place
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