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BlackRock Fined £9.5m For Client Money Breaches

FSA Logo

The Financial Services Authority (FSA) has fined BlackRock Investment Management (UK) Limited (BIM) £9,533,100 for failing to protect client money adequately by not putting trust letters in place for certain money market deposits, and for failing to take reasonable care to organise and control its affairs responsibly in relation to the identification and protection of client money.

Mark Zuckerberg Calls Facebook's Stock Market Debut 'Disappointing'

Mark Zuckerberg

Mark Zuckerberg has called Facebook's stock market debut disappointing but said the company was set to bounce back. "Some days are hard, some days kick ass," the firm's billionaire co-founder told an audience at TechCrunch's Disrupt conference in San Francisco in his first interview since the company's disastrous initial public offering in May.