Investment firm Baronworth has been fined £50,000 by the City regulator for failing to inform clients of its products' risks.
The Financial Services Authority (FSA) said Baronworth's promotions were misleading, and failed to reflect the hazards of investments as prominently as the benefits flagged up.
The watchdog also said the Ilford-based firm failed to handle complaints properly, and noted a significant number of these were linked to its Eurolife Secured Bond ISA.
Colin Jackson, the firm''s chief executive, was directly responsible for this, the FSA said.
'This particular case emphasises the need for authorised firms and approved persons to ensure their financial promotions are clear, fair and not misleading, especially when they are carried out on a direct offer or non-advised basis,' Bill Sillett, head of retail enforcement at the FSA, said.
'This is particularly important to ensure non advisory firms are compliant with the recent changes brought in by the retail distribution review.'