Its troubles started with a rogue salesman last year. Beaufort fessed up and compensated clients but the FCA insisted on a total overhaul of its compliance systems and clients found themselves unable to withdraw cash for a while. Broking is a tough business anyway with the staff demanding the fat via bonuses in good years and the shareholders picking up the tab in bad years. And so that run in with the FCA was the straw that broke this camel's back. The FCA said it feared Beaufort was insolvent and so...
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