2019 FCA fines

NEWS
Published
Jan 16th '19
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This contains information about fines by the Financial Conduct Authority (FCA) published during the calendar year ending 2019. The total amount of fines is £392,303,087.

Firm or individual fined Date Amount Reasoning
Kevin Gorman 20/12/2019 £45,000 This Final Notice refers to breaches of Article 19(1) of MAR related to failing to notify trading in shares to their issuer and the FCA as a PDMR in the issuer sector. FCA imposed a fine.
Professional Personal Claims Limited 17/12/2019 £70,000 This final notice refers to breaches of the Conduct of Authorised Persons Rules 2014 in relation to misleading consumers to claims in the claim management companies sector. FCA imposed a fine.
Henderson Investment Funds Limited 18/11/2019 £1,867,900 This final notice refers to breaches of PRIN 3 and PRIN 6 related to the unfair treatment of customers in the Asset Management sector. FCA imposed a fine.
Tullet Prebon (Europe) Limited 11/10/2019 £15,400,000 This final notice refers to breaches of PRIN 2, PRIN 3 and PRIN 11 related to wholesale conduct and failing to be open and co-operative in the trading firm sector. FCA imposed a fine.
The Prudential Assurance Company Limited 30/09/2019 £23,875,000 This final notice refers to breaches of PRIN 3 and PRIN 6 and relates to mis-selling and the unfair treatment of customers in the pensions sector. FCA imposed a fine.
Cathay International Holding Limited 25/07/2019 £411,000 This final notice refers to breaches of the Listing Principles and Disclosure Rules and Transparency Rules in the issuer sector. FCA imposed a fine.
Jin-Yi Lee 25/07/2019 £214,300 This final notice refers to breaches of the Listing Principles and Disclosure Rules and Transparency Rules in the issuer sector. FCA imposed a fine.
Eric Ka Chi Siu  25/07/2019 £40,200 This final notice refers to breaches of the Listing Principles and Disclosure Rules and Transparency Rules in the issuer sector. FCA imposed a fine.
Standard Life Assurance Limited 23/07/2019 £30,792,500 This final notice refers to breaches of PRIN 3, PRIN 6 and COBS related to the unfair treatment of customers in the Life Insurance sector. FCA imposed a fine.
Bank of Scotland plc 21/06/2019 £45,500,000 This final notice refers to breaches of PRIN 11 and SUP, relating to failing to be open and cooperative in the retail banking sector. FCA imposed a fine.
R.Raphael & Sons plc 30/05/2019 £775,100 This final notice refers to breaches of PRIN 2, PRIN 3, SYSC 8 relating to culture/governance in the retail bank sector. FCA imposed a fine.
Linear Investments Limited 29/04/2019 £409,300 This final notice refers to breaches of PRIN 3 related to market protection and market abuse in the trading firm sector. FCA imposed a fine.
Standard Chartered Bank 09/04/2019 £102,163,200 This decision notice refers to breaches of the Money Laundering Regulations 2007 related to financial crime in the investment and retail bank sector. FCA imposed a fine.
Goldman Sachs International 28/03/2019 £34,344,700 This final notice refers to breaches of SUP 17, SUP 15 and PRIN 3 related to transaction reporting failures in the investment bank sector. FCA imposed a fine.
UBS AG 19/03/2019 £27,599,400 This final notice refers to breaches of SUP 17, SUP 15 and PRIN 3 related to transaction reporting failures in the investment bank sector. FCA imposed a fine.
The Carphone Warehouse 13/03/2019 £29,107,600 This final notice refers to breaches of PRIN 3, 6 and 9 related to mis-selling in the general insurance and protection sector. FCA imposed a fine.
Hargreave Hale Limited 21/02/2019 £306,300 The FCA has issued a decision for this asset management firm for breaches of competition law.
River & Mercantile Asset Management LLP  21/02/2019 £108,600 The FCA has issued a decision for this asset management firm for breaches of competition law.
Paul Stephany 05/02/2019 £32,200 This final notice refers to breaches by an individual of Statement of Principle 2 and 3 relating to failing to observe proper standards of market conduct and failing to act with due skill, care and diligence in the asset management sector. The FCA imposed a fine.
Stewart Owen Ford 16/01/2019 £76,000,000 This final notice refers to breaches by an executive director of APER 1, APER 4 and FIT related to mis-selling, failing to be open and co-operative, a lack of fitness/propriety, conflicts of interest, and failing to act on information appropriately in the asset management sector. FCA imposed a fine and prohibition.
Mark John Owen 16/01/2019 £3,240,787 This final notice refers to breaches by an executive director of APER 1, APER 4 and FIT related to a lack of fitness/propriety and failing to act on information appropriately in the asset management sector. FCA imposed a fine and prohibition.

Source: FCA

Published: 16/01/2019 Last updated: 20/01/2020