Thanks to Standard Life, the FSA has made a good start to the year with fines totalling £2.5m in the month of January. The penalty was in respect of failures […] [...]

Thanks to late contributions from Toronto Dominion Bank (£7m) and UBS AG (£8m), 2009 was a record year for FSA penalties – £34.9m vs. £22.7m for 2008. The link below […] [...]

UBS (AG) has been fined £8m for failures in systems and controls that enabled four employees to carry out unauthorised transactions involving customer money ‘on at least 39 accounts’. As […] [...]

And for good measure the FSA has fined Seymour Pierce £154,000 for poor controls to guard against employee fraud. The facts of the case made incredible reading; an employee managed […] [...]