FSA fines former Alpha 2 Omega directors

Directors Andrew Ruff and Richard Lindley were fined £28,000 and £14,000 respectively. Ruff was also banned from giving advice as the FSA found he was primarily responsible for compliance arrangements at the firm. These failings led to customers being at risk of receiving unsuitable investment advice, the FSA said. The regulator began its investigation into A2O in March 2009 when it reviewed some of the customer files assigned to an A2O appointed representative. As a result of that work, A2O was required to appoint a skilled person to review the compliance systems at A2O. The sk...