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The problems reported in Money Management over the years could have quite easily been avoided by competent regulators at the time (eg Storm) and by targeted regulations focused on the minority of wrongdoers.

Instead, the government and regulators have launched a broad based persecution campaign against the whole industry, most of whom provide a valuable service to clients and have never done anything wrong. It is a colossal failure in responsible government, that will end up harming the majority of consumers.