HOODLESS BRENNAN: I suppose most of us have had dealings at some time or other with these people. Thought you might be interested in this report from The Guardian December 17th 2003:-
"Stockbroker Hoodless Brennan has been fined £150,000 by the Financial Services Authority after the City watchdog found the firm issued a "false and misleading" statement to the market concerning one of its corporate clients, AIM-listed media group PrimeEnt.
Sean Blackwell, the broker's former chief executive, has been declared to be "not a fit and proper person" to work as an investment adviser - effectively a lifetime ban from the City - after a bungled attempt to support PrimeEnt's share price in March 2000, following a £2.5m share placing.
The FSA issued final notices on the matter yesterday after Mr Blackwell's appeal against disciplinary action failed.
Geoffrey Hoodless, the broker's former chairman, succeeded in his appeal and therefore may continue as an investment adviser.
The FSA said Hoodless Brennan had failed to provide regulators with "full and accurate" information following the share placing. It also "failed at the time to keep proper records, failed to supervise corporate broking staff and failed to follow proper compliance procedures," the FSA said.
The regulator said that the size of the fine reflected the fact that Hoodless Brennan was now under new management and had improved its internal controls."
