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FSA rules out Isa mis-buying probe

The Financial Services Authority says it has no plans to a launch major investigation into the potential mis-buying of Isas.


Investors are currently allowed to take out a maximum of three mini Isas – in cash, stocks and shares, and insurance respectively.


But experts believe many people are breaking the rules by taking out more category of Isa.


The Inland Revenue says it is to check for multiple Isa holdings at the end of June.

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