FSA fines Kilminster £42,000

Bristol-based IFA network Kilminster Financial Management has been fined £42,000 by the FSA for mana...

Bristol-based IFA network Kilminster Financial Management has been fined £42,000 by the FSA for management and complaints handling failings. The failings occurred from January 2004 to August 2006. The FSA said Kilminster failed to treat its customers fairly because it was not handling complaints in good time. It also did not monitor its staff sufficiently or keep appropriate training and competence records, and failed to implement appropriate procedures to co-operate with the Financial Ombudsman Service. The FSA said the failings follow a poor regulatory history at the firm. In Ap...