The best way to check if it cuts any HTML command (including graemlins, images, etc) is to check the number of <'s in comparison to the number of >'s, and if there are more <'s just remove everything after the last <, including it.
For example if it is:
Quote
quote: This is a sample sentence! Welcome to our board! ", so it removes everything after and including the last <, which is "
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