The Financial Conduct Authority (FCA) has fined Threadneedle Asset Management Limited (TAML) £6,038,504 ($9.03m) for failing to put in place adequate controls in the fixed income area of its front office, and for providing inaccurate information to the regulator and for failing to correct the inaccurate representation for four months.
Incoming Royal Bank of Scotland Chairman Howard Davies has defended his role in setting up the financial regulator that presided over the near meltdown of Britain's banking system.
Royal Bank of Scotland was asked by investors suing over losses from a 2008 share sale to disclose details of probes by U.K. and U.S. regulators into its near-collapse and $78bn bailout.
The U.K.’s financial regulator is partly to blame for not detecting efforts by banks it supervised to rig benchmark interest rates for several years, UK lawmaker Andrew Tyrie said.
Some of the bonus pot will be diverted elsewhere.
A Deutsche Bank internal probe has found that two of its former traders may have been involved in colluding to manipulate global benchmark interest rates but there was no indication of failure at the top of the organisation, three people close to the investigation said.
Hector Sants, Chief Executive (CEO) of the Financial Services Authority (FSA), has announced his intention to leave the organisation at the end of June 2012, having completed the fundamental design and delivery of the changes needed to achieve the Government’s plan to separate prudential and conduct financial regulation in the UK.
The Financial Services Authority (FSA) has fined Andrew Osborne, former Managing Director in Corporate Broking at Merrill Lynch International (now Bank of America Merrill Lynch International) £350,000 ($550,000), for engaging in market abuse by improperly disclosing inside information ahead of a significant equity fundraising by Punch Taverns Plc (Punch) in June 2009.
Here's an interesting stat about the resources of UK market regulator The Financial Services Authority (FSA).
The Financial Services Authority (FSA) has published its Board’s Report into 'The failure of the Royal Bank of Scotland'. (RBS).