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News: Solicitor suspended for boiler-room scam involvement
A solicitor involved in boiler-room scams has been suspended from practising for 18 months by the Solicitors Disciplinary Tribunal (SDT).
Andrew Lawrence Greystoke, of Atlantic Law, London, had already been found guilty by the then Financial Services Authority (FSA) to have recklessly signed off the approval of 50 UK investment advertisements issued by unregulated Spanish stockbroker firms. He did so without taking reasonable steps to ensure the advertisements were clear, fair and not misleading, and despite having reason to doubt that the Spanish firms would deal with UK consumers in an honest and reliable way.
Mr Greystoke accepted these Spanish firms were boiler-room share scam operators - so called because they involve high-pressure selling - and that he had approved their advertisements despite being aware of complaints. In May 2010, Mr Greystoke was permanently banned from working in any capacity in financial services by the FSA and he and Atlantic Law were also fined £400,000.
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Andrew Lawrence Greystoke, of Atlantic Law, London, had already been found guilty by the then Financial Services Authority (FSA) to have recklessly signed off the approval of 50 UK investment advertisements issued by unregulated Spanish stockbroker firms. He did so without taking reasonable steps to ensure the advertisements were clear, fair and not misleading, and despite having reason to doubt that the Spanish firms would deal with UK consumers in an honest and reliable way.
Mr Greystoke accepted these Spanish firms were boiler-room share scam operators - so called because they involve high-pressure selling - and that he had approved their advertisements despite being aware of complaints. In May 2010, Mr Greystoke was permanently banned from working in any capacity in financial services by the FSA and he and Atlantic Law were also fined £400,000.
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