Kings pays £60,000 financial promotions penalty

Non-compliant financial promotions and associated systems and controls failings have cost Kings, the Maidstone-based independent financial adviser, a £60,000 fine. The breaches, which occurred between 1 December 2001 and the end of February 2004, relate to approval of nine specific non-real time financial promotions for pension unlocking that were issued by Regal Partners Ltd, which operated as an introducer for Kings.