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PERSONAL INVESTMENT AUTHORITY'S DECISIONS ON MEMBERSHIP

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The Personal Investment Authority (PIA) has terminated the ...
The Personal Investment Authority (PIA) has terminated the

membership of Independent Insurance Expertise Limited which, until

until recently, traded from Premier House, 112 Station Road, Edgware,

Middlesex HA8 7BJ. The firm is therefore no longer authorised to

conduct investment business.

The firm's membership was terminated after it had been struck off

the register maintained under the Companies Act 1985 by the Register

of Companies.

. Independent Insurance Expertise Limited was admitted to PIA on

18 July 1994. Under Category B3, the firm was authorised to

arrange investment transactions and give investment advice but not

to handle clients money and assets. The principal of the firm is

Claudia Elizabeth Ruth Francis.

. Any consumer concerned or affected by PIA's decision can contact

the Public Enquiries Helpline on 0845 606 1234.

The (PIA) has also terminated the membership of Simply Good Advice Financial Services of 45 Potterton Lane, Barwick in Elmet, Leeds LS15 4DU. The firm is therefore no longer authorised to conduct investment business.

The firm's membership was terminated after the firm's sole principal

had been adjudicated bankrupt.

. Simply Good Advice Financial Services was admitted to PIA on

22 May 1995. Under Category B3, the firm was authorised to arrange

investment transactions and give investment advice but not to

handle clients money and assets. The principal of the firm is

Neil Ramsay.

Personal Investment Authority (PIA) has terminated the

membership of York Pollard Limited of 2a East Street, Epsom, Surrey

KT17 1HH. The firm is therefore no longer authorised to conduct

investment business.

The firm's membership was terminated after the firm had been struck

off the register maintained under the Companies Act 1985 by the

Registrar of Companies.

. York Pollard Limited was admitted to PIA on 3 July 1995.

Under Category B3, the firm was authorised to arrange investment

transactions and give investment advice but not to handle clients

money and assets. The principal of the firm is Anthony Paul Ancliff.

Personal Investment Authority (PIA) has rejected the

applications for membership from the L & PS Limited of The Sands,

Farnham, Surrey GU1 1PX.

The firm's application for membership was rejected on the ground

that the firm is not fit and proper to become a member of PIA for

the following reasons:

- the firm failed to deal with PIA in an open and accurate manner;

- adverse information was received in respect of the firm's key

individual

- the firm was unable to demonstrate that it was organised and

motivated to comply with the conduct of business rules

The firm had appealed to the Membership & Disciplinary Tribunal

against the PIA Membership Committee's decision to reject the

application. The appeal was subsequently withdrawn. The tribunal

ordered the firm to pay PIA's costs of£3,300.

. L & PS Limited applied to become a category B3 member. The

principal of the firm is David Justin Sowerbutts.

. Applications for membershipof PIA are considered by its

membership committee. Any applicant which is dissatisfied with the

decision of the committee may appeal to the membership &

disciplinary tribunal. PIA only announces the names of applicants

that have been rejected when the applicant's appeal has been

determined or when its rights of appeal have expired without being

exercised.

FINES MANDRAKE ASSOCIATES LIMITED

Personal Investment Authority (PIA) announced that it has

fined Mandrake Associates Limited£25,000.

After a monitoring visit, a number of serious compliance

failures were identified. In particular, PIA found that the firm

had failed to:

- organise and control its internal affairs in a responsible manner

- keep proper records

- establish adequate written compliance procedures for investment

staff

In relation to selling practices, there was insufficient evidence

in a number of cases to demonstrate that their transactions

considered were suitable for the investor's needs.

As part of PIA's disciplinary action, the firm has agreed to review

some of its past business and had submitted detailed proposals to

improve compliance in future.

- Mandrake Associates Limited of 6 North Brink, Wisbech,

Cambridgeshire PE13 1JR, which had 62 advisers at the relevant time,

was admitted to PIA on 12 September 1994. Under Category B3, the

firm is authorised to arrange investment transactions and give

investment advice but not to handle clients money and assets.

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