FSA fines Trigon for failing to monitor advisers

The FSA says Trigon Financial Services (TFS) did not record sufficient customer information and was therefore unable to demonstrate the quality of the advice given. It also failed to implement and follow an adequate training and competence scheme for advisers and its suitability letters were inadequate. The FSA visited Trigon in January 2006 and reviewed a sample of TFS's customer files, compiled from January to December 2005, as part of its work into the process of giving financial advice. It briefed Trigon on the conclusion of the visit and later sent it a report, but when it revisited...