FSA fines stockbroker for bad advice

The FSA has fined Mansion House Securities £122,500 for giving customers unsuitable and inaccurate advice when selling them higher risk shares.

The FSA found the firm's advisers had given customers inaccurate information and failed to highlight the risks associated with the recommended shares. Its advisers also used inappropriate sales practices to pressure customers into buying shares.

The FSA pointed out that this is their third recent fine against a stockbroker for treating customers unfairly.

Our view - if you have been missold shares by a stockbroker and lost money, you should consider a claim.