The FCA has fined Aviva Pension Trustees UK Limited and Aviva Wrap UK Limited (Aviva) £8,246,800 (including a 30 per cent discount) for failing in its oversight of third party providers engaged to administer client money and conduct external reconciliation of custody assets. Between 1 January 2013 and 2 September 2015, Aviva breached; principles 3 […]

Investors call on financial authority to answer for lack of due diligence and site inspections at Maltese Cross Financial Services MFSA chairman Joseph V. Bannister: ‘No supervisory system is waterproof and it is therefore unreasonable to expect supervisors to prevent all failures, particularly when we are dealing with humans whose behaviour might change during the […]

Bank in discussions with Financial Conduct Authority, three years after penalty for failing to ringfence client assets from own funds Barclays faces paying tens of millions of pounds to the City watchdog for failing to keep its clients’ money safe, despite having already been hit with a fine over the issue. The bank and the […]

The Hong Kong Securities and Futures Commission (SFC) has announced that Mr Mok Kin Hung, a former employee of Dah Sing Bank, Limited, has been banned from re-entering the industry for life. Mr Mok was previously a relevant individual engaged by Dah Sing Bank to carry out the regulated activities of dealing in securities and […]