| I wonder if this was the intended effect? And if you think it’s simply because they were all too thick to pass the exams, you are wrong. Neither the FSA nor the broking firms I spoke to will say how many brokers have let their registrations lapse. Clearly there is a cost involved in registering, and while I’m not suggesting the firms are acting in any way improperly, I doubt Mifid was ever intended to give brokers a chance to save a few bob on their annual registrations. |
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