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FSA bans Simply Trading bosses
The Financial Services Authority (FSA) has publicly censured three traders and banned them from senior management positions for falling short of FSA standards. The FSA said the three directors of Simply Trading relied too heavily on consultants for advice on how to run the business.Stephen Coles, Luke Ryan and Michael Yamoah also failed to properly monitor two of their representatives, leading to a serious risk of investors receiving unsuitable investment advice.