FSA takes action against financial commentator Jackson

The Financial Services Authority (FSA) has taken action against Ilford based Baronworth Investment Services and its chief executive, Colin Jackson, for failing to ensure their direct offer financial promotions were ‘fair, clear and not misleading'.

Baronworth's financial promotions lacked balance by emphasising the benefits of a proposed investment without giving equal prominence to the risks, the FSA said. In addition, Baronworth - a non advisory firm - failed to handle its complaints appropriately, a significant proportion of which arose from its financial promotions of the Eurolife Secured Bond ISA. Jackson was directly responsible for these failures as he was solely responsible for drafting and approving direct offer financial promotions and handling of complaints within Baronworth. Jackson has received a partial prohibit...