Lloyd Pope and Peter Legerton, former directors of advisory firm TailorMade Independent Ltd (TMI), have been banned from performing any significant influence function in the UK financial services industry by the FCA for breaches of Principle 7 of the FCA’s Statements of Principle for Approved Persons. In addition, Mr Pope has been fined £93,800 and […]

The FCA has fined Alberto Micalizzi, the former CEO of Dynamics Decisions Capital Management Limited, £2.7 million for breaching Principle 1 of the Statements of Principle for Approved Persons and banned him from performing any function in relation to regulated activity. The FSA, the predecessor to the FCA, had originally imposed such a ban and […]

The FCA levied around £1.5bn in fines during 2014, nearly three times the amount raised the year before. Last year was one of bumper fines, with five banks told to pay a record £1.1bn for failing to control business practices in their G10 spot foreign exchange trading operations. Citibank NA was fined £225.5m, HSBC £216.3m, […]

(Reuters has reported 23 May 2014) – Barclay’s Plc (BARC.L) has been fined 26 million pounds for failures in internal controls that allowed a trader to manipulate the setting of gold prices just a day after the bank was fined for rigging Libor interest rates in 2012. Britain’s Barclay’s is the first bank to be […]

The FCA has fined Invesco Asset Management Limited and Invesco Fund Managers Limited (IFML) (together known as Invesco) £18,643,000 (including a 30 per cent discount) for failing to keep within investment limits, introducing leverage into certain funds without providing investors with proper disclosure about the risks involved and failing to put adequate controls in place […]

The FCA has banned Anthony Verrier, a former senior executive at BGC Brokers LP, from performing any function in relation to any regulated activity in the financial services industry. The FSA published a decision notice against Mr Verrier in May 2012 indicating that it had decided to ban him (see below). Mr Verrier referred the […]

The FCA has published a Decision Notice against Angela Burns, a former non-executive director, deciding to ban and fine her £154,800 for failing to disclose her conflicts of interest in breach of Principle 1 of the FCA’s Principles for Businesses. In 2006, Ms Burns completed a consultancy project for a US based investment manager. Shortly […]

Regulator says non-executive director had a duty to disclose her interest in seeking consultancy work from the investment manager to her mutual societies’ directors. The Financial Conduct Authority has banned and fined Angela Burns, a former non-executive director, £154,800 for failing to disclose her conflicts of interest in working with two mutuals. In a decision […]