FSA censures Park Row Associates with £7.8m bill over misadvised customers

The Financial Services Authority (FSA) has publicly censured Park Row Associates, a network of UK independent financial advisers, and agreed a customer redress settlement with the firm of between £5 million and £7.8 million.
Park Row’s chief executive Peter Sprung was also personally fined £49,000 by the regulator. The regulator added that it had withdrawn his approval to work at the firm and that Sprung agreed not to perform a significant function at any firm for five years.

The FSA said Park

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