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Purpose

To report and comment on the tribunal case Jonathan Milnroy Townrow v. Financial Services Authority.

Design/methodology/approach

Outlines the facts and explains the decision.

Findings

Shows that, even though this was an extreme case, it is likely that any Tribunal would have reached the same outcome on the evidence provided.

Originality/value

Provides a useful commentary on regulated activities of retail investment advisors and other financial investments.

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