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Bad advice in finance can have a devastating impact on people.
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Navigea Securities

Navigea Securities was created after Acta Asset Management was deprived of its license by the Norwegian financial supervisory authority in 2012. On 20 of June 2014, the Norwegian Financial Supervisory Authority (Finanstilsynet) revoked the licenses of Navigea Securities AS to provide investment services. The Norwegian financial supervisor did this after identifying serious and systematic violations of the Securities Trading Act’s requirements for good business practice.  The company’s communication with customers was highly criticised. The company’s advisors had failed to provide objective information in telephone conversations with its customers and did not make individual and real assessments if investments were in the customer’s interest. As a result, many customers did not receive information about better investment opportunities.