AFAs censured by FADC

The committee has published the details of two decisions it made on the papers.

The cases were similar: The advisers were referred to the FADC by the Financial Markets Authority, after admitting breaches of the code.

A QFE submitted a report to the FMA about it investigations into AFAs with high levels of replacement business between 2011 and 2015.

Four AFAs were identified - the two advisers in question were half that number.