FSA fines London IFA £24,500

The Financial Services Authority today fined:

"Robin Bradford (Life and Pension Consultants) Ltd (Robin Bradford), a London based IFA firm, £24,500 for exposing customers to unacceptable levels of risk of receiving poor pension switching advice..."

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Kensington Mortgage Company Limited fined £1.225m

The Financial Services Authority (FSA) has today announced it has fined Kensington Mortgage Company Limited £1.225 million for poor treatment of some customers facing mortgage arrears:

"The firm has agreed to redress customers who were in arrears and charged specific unfair and/or excessive charges. It is estimated that the redress will cost the firm up to £1.066 million...."

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FSA issues £4.2m fines

The Financial Services Authority has fined three firms a total of £4.2m for failing to provide accurate and timely transaction reports to the FSA:

"The three firms are Credit Suisse (£1.75m fine), Getco Europe Limited (£1.4m) and Instinet Europe Limited (£1.05m)..."

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FSA fines IFA director £49,000

The Financial Services Authority has fined Charles Palmer, director of Gloucestershire based IFA network, Financial Ltd, £49,000 for:

"Management failings resulting in poor compliance monitoring on pension switching advice during a period of rapid expansion..."

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FSA fines Tenon £700,000

The Financial Services Authority has today fined Tenon £700,000 for advice failings:

"The Financial Services Authority has today fined RSM Tenon Financial Services Limited £700,000 for significant failings in its advice and sales processes relating to Lehman-backed structured products..."

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