Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

FCA FINES FIRMS AND INDIVIDUALS OVER £340M FOR MARKET ABUSE IN 2013

FCA FINES FIRMS AND INDIVIDUALS OVER £340M FOR MARKET ABUSE IN 2013

Kinetic Partners, the global professional services firm, has released research showing that in 2013*, market abuse was a key priority for FCA enforcement. In 2013*, the FCA fined firms and individuals a total of £346,373,924 for market abuse related breaches.

Kinetic Partners’ research also found that market abuse was the second most cited offense among fines filed against either firms or individuals, numbering nine for the year – behind unfair treatment of customers, which accounted for ten fines. However, despite fewer actions being taken against market abuse, such breaches accounted for a greater share of the sum total of fines than any other category of violation during that period. In total, the FCA handed down fines totalling £48,158,900 for breaches related to unfair treatment of customers.

Monique Melis, global head of consulting at Kinetic Partners comments:
“There has been a growing awareness of how significantly market abuse impacts institutions and consumers alike. As such, the FCA’s focus has been centred on the detection and prosecution of market abuse including insider dealing, trading and market manipulation. The large fines imposed for market abuse and their potential impact on a firm’s reputation is a valuable tool for deterrence and a high priority on the regulator’s agenda.

“The key lesson from the FCA’s focus on market abuse is that firms must have robust central monitoring functions and compliance systems in place to ensure that both the firm and its employees are operating with integrity. It is of paramount importance that firms are vigilant about their internal monitoring and control mechanisms in order to maintain market confidence and ensure that any trading activities in which they engage are proper and clean.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post