SFA orders broker to stop trading
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Securities and Futures Authority (SFA) has ordered Manchester stockbroker John Siddall to cease trading for failing to maintain adequate financial resources.
The broker has been told to stop trading immediately and to arrange for clients and the management of their accounts to be transferred to another firm. The SFA said that Siddall had informed it on a number of occasions that it would rectify its financial position, hit by a pounds 600,000 loss on a speculative Canadian share, but it had failed to do so. Last month two of Siddall's former directors were expelled from the SFA register of directors following a reprimand for the firm relating to share-dealing in Anglia Television.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments