FSA has fined a financial advice firm and its two partners a total of £49,000. It found several problems with the firm's sales and advice process including failure to record details about its customers so it was not possible to tell whether advice was suitable. FSA also found inadequate systems and controls. It said the case highlights the dangers of limited control and oversight and failure of senior management to discharge their responsibilities properly. (Source: FSA/PN/014/2010 and Final Notices)