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The reporting rules are set up so that firms who are scrupulous about applying them will be investigated mercilessly over a client who sold some cannabis 20 years ago when he was 16 whereas the ones who drive a coach and horses through the rules will be left alone. Why? Because the "big lie" is the easiest to swallow; those wonderful firms in the City can't possibly be involved in this sort of thing because they would be crazy to risk their livelihood and reputations, in which case they clearly aren't involved. Quod erat demonstrandum, as lawyers used to say!