The City watchdog said it had suspended 11 firms from the trading after
accusing them of “targeting old people” and failing to explain the
risks association with risky and complex products. Penny shares are almost
worthless high-risk shares which are not trade on the main stock market.
Lesley Titcomb, the FSA’s director of small firms and contact ision, said: “It
is totally unacceptable to have consumers pressurised into buying shares. It
is all the more disturbing when the risks of those shares have not been set
out clearly.
“Our …
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