FSA fines Charterhouse £122,500 for unauthorised portfolio management
The Financial Services Authority (FSA) has fined Charterhouse Consulting Wealth Management(Charterhouse) £122,500 for carrying out discretionary portfolio management without permission and for various conduct of business failings.
Charterhouse regularly switched a number of clients between funds although the firm did not have permission to operate in this way. The FSA’s investigation found that Charterhouse would often send
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