London-based Kyte Group has been fined £250,000 by
Financial Services Authority (FSA) for systems and controls
failings resulting in inadequate client money protection and
poor accounting systems.
The firm failed to keep sufficient accounting records
between December 2001 and September 2003, resulting in a
£7.2m misstatement of Kyte's balance sheet for the year
ending 30 April 2003, according to FSA.
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