Citigroup fined £61.6m over trader inputting error
A trader erroneously created an equity basket worth $444bn, of which $1.4bn made it to market before the order was cancelled
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Regulation
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UKSIF and IA publish guidance for SDR consumer-facing disclosures
Investors should include information such as labels as well as sustainability objectives and metrics
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FCA charges nine finfluencers over unauthorised investment scheme
Defendants will appear in court on 13 June
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‘Back to the Dark Ages’: Industry calls for FCA consultation amid trust test-taking woes
Platforms requiring retail investors to undertake knowledge tests before buying certain trusts is bruising the already-ailing sector
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FCA enforcement investigation proposal is ‘radical departure’ from norm, warns AIMA
In response to FCA’s proposal to release enforcement investigation information before a decision is made
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Financial services sector leaders warn against FCA’s proposal to publicise enforcement investigations
Investment Association, UK Finance, PIMFA among others to sign letter to Jeremy Hunt against proposal
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PwC: Half of EMEA firms think AML regulations need more clarity
20% of respondents were concerned about lack of uniformity in applying regulations
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Will the FCA’s response to Link failures change the role of ACDs?
TTF challenges regulator’s claim its Weif enforcement action will raise industry standards among ACDs
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Woodford: Link avoided £50m FCA fine due to redress scheme
Regulator said it would have proposed a penalty of up to £50m if Link had not settled on a scheme of arrangement
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FCA to take action against Neil Woodford and WIM
Also found Link Fund Solutions failed to act with due skill, care and diligence in its management of the Woodford Equity Income Fund
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Ocorian: Compliance issues causes loss for 81% of alternative fund managers in three years
92% expect compliance breaches to increase over two-year period
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FCA plans to overhaul how asset managers pay for investment research
‘Bundling’ of payments for third-party research could level the playing field for smaller asset managers