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Commission for introducing investment business

A client has recently signed a contract to introduce clients to a hedge fund. The latter will pay him 5% of any sums placed with the fund by the people introduced by him. He is expecting that the sums will be very large in due course. His main business is as a self-employed bookkeeper. The hedge fund assures him that he does not need to register with FSA in connection with the introductions to the hedge fund. Is this correct?


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