FSA bans Brandeis director and traders

08 Mar 2004

UK regulator Financial Services Authority (FSA) has banned Colin Gamwells, the former dealing director from former London Metal Exchange broker Brandeis, and three former traders, for deliberately mispricing customer orders and deliberately misusing...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.