RSM Tenon's financial management division has returned to a normal relationship with the FSA after a period of heightened supervision, it has reported.
The regulator had been monitoring the wealth manager since 2010, when it imposed a £700,000 fine and a business review for failings relating to the sale of Lehman-backed structured products. The group said removal of heightened supervision will improve its focus on trading. "Financial management has made major progress over the last year following its period of heightened supervision with the FSA, and has now moved to a business as usual monitoring relationship with the regulator, which will allow the service line greater time and focus to concentrate on its commercial trading." H...
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