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PIA fines A B Financial Services £7,500

The PIA has fined A B Financial Services of 9 Station Road, Radlett, Hertfordshire the sum of £7,500 for compliance failings, as well as costs of £1,800.

In visits in 1997, 1998 and 2000 the PIA found the firm failed to keep sufficient “know your client” information, gave insufficient reason why letters and failed to remedy breaches of compliance notified by the PIA.

The firm also failed to send compliant terms of business letters to its clients and did not maintain an up to date PIA rule book.

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