FSA fines vantage over non-approvals

LONDON – Vantage Capital Markets has been fined £700,000 for violating rules on significant influence functions.

The FSA says Vantage knew that Daniel Hassell was not an approved person and that it would be unlikely to approve him in a significant influence role.

Hassell worked at Vantage with a job title of “consultant”, but the FSA says he “exercised a significant influence over Vantage”, and received around a third of its profits.

Vantage applied for approval for Hassell in 2004 when it was

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