Kyte Group
Mr Sandler is listed on the FSA (Financial Services Authority UK) website as having past associations with a company in the UK (Kyte Group) which was fined £250,000 by the FSA.
The FSA's fines notice says:
"The FSA have fined Kyte Group Ltd £250,000 for systems and controls breaches. Kyte failed properly to calculate, reconcile or transfer client money into segregated accounts in accordance with FSA rules. Kyte also failed to take reasonable care to make and retain adequate records of matters and dealings, including accounting records, which resulted in the misstatement of Kyte's balance sheet by approximately £7.2 million for the year ended 30 April 2003. The misconduct took place in the period from December 2001 to September 2003, and was found to be in breach of Principle 3, Principle 10, SYSC 3.1.1, SYSC 3.2.6, SYSC 3.2.20, COB 9.3.37, COB 9.3.100, COB 9.3.105, COB 9.3.121, COB 9.3.123, COB 9.3.126 and COB 9.3.131."
Read more about this topic: Ron Sandler
Famous quotes containing the word group:
“If the Russians have gone too far in subjecting the child and his peer group to conformity to a single set of values imposed by the adult society, perhaps we have reached the point of diminishing returns in allowing excessive autonomy and in failing to utilize the constructive potential of the peer group in developing social responsibility and consideration for others.”
—Urie Bronfenbrenner (b. 1917)