Fsa Blast Puts Berkeley Berry Future in Balance

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THE future of one of Britain's largest financial advisers, Berkeley Berry Birch, is in doubt today after the City watchdog found it guilty of three years of sales mismanagement and said it was investigating whether the firm had properly ring-fenced customers' money.

The company today estimated its past actions could leave it with a bill to compensate consumers of between Pounds 500,000 and Pounds 1 million. The Financial Services Authority wanted to fine its main division, Berkeley Independent Advisers, Pounds 425,000 for three years of failure to heed "numerous warnings" about its sales strategy, both from internal compliance and independent experts.

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Fsa Blast Puts Berkeley Berry Future in Balance

But the group is so cas...

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