The FSA's campaign to maintain standards among smaller financial firms has seen over 130 firms take corrective action over the way they operate.

Another 30 firms lost or had their authorisation to do business changed under the strengthened standards.

The regulator's threshold conditions team has taken action against firms that have failed to co-operate with the FSA to help meet its minimum requirements.

Managing director of the retail markets business unit, Clive Briault, said: "We work with firms to help them keep to the required standards but we take action when we find serious problems that could result in consumers losing out."

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