The FCA has imposed a further 13 fines since March. Recent large fines include the BNY Mellon’s London and International branches’ £126 million fine for failure to comply with custody rules and Deutsche Bank’s £227 million fine for LIBOR and EURIBOR related mis-conduct. Personal fines have also been a priority; on 26 May, the FCA […]
Read MoreFraud, theft, foul play: Can advisers spot the next scandal before it breaks?
How much can advisers really be expected to know about problem investments before they turn sour? Keydata and Arch cru collapsed separately six years ago, but important new details about who and what caused the multi-million pound failures are still filtering out. Advisers were among the first to be blamed, if not for causing the […]
Read MoreFCA publishes Final Notice for Keydata’s former finance director, Craig McNeil, fining him £350,000 and prohibiting him from performing any significant influence function
A financial director of an Investment firm which sold investment products to retail investors has been fined £350,000 by the FCA because he did not notify the FCA of failed payments. The financial director also failed to challenge a complicated transaction, permitting the release of £500,000 of its firm’s corporate funds with no thought for […]
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