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The SRAs policy u turn on financial stability interventions is a sensible decision. Well done Mr.Phillip. If a firm has committed no serious regulatory breaches concerning dishonesty why intervene. The matter should rest in the hands of the administrators who are qualified to deal with such matters not the SRA who are not. This regulatory aporoach works well in Canada and Australia and will work well here. Its a pity this wasn't done sooner too many firms have already been hurt by the previous approach championed by Samantha Barras of harrasing firms who are trying to resolve their financial issues.

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