This table contains information about who the FSA has fined during 2007.
Total amount of fines in 2007 - £5,341,500.

Amount Company or person fined Date What was the fine for? Compensation
£1,260,000 Norwich Union Life 17/12/07 For not having effective systems and controls in place to protect consumers' confidential information and manage its financial crime risks.  
£10,500 Next Generation Mortgages Limited (NGM)
 19/11/07 For inadequate mortgage sales and advice procedures which exposed their customers to the risk of receiving unsuitable advice.  
£31,500 The Loan Company trading as Greenhill Finance (TLC)
 19/11/07 For inadequate mortgage sales and advice procedures which exposed their customers to the risk of receiving unsuitable advice.
 
£490,000 Toronto Dominion Bank (London branch)
 16/11/07 For systems and controls failings in relation to one of its trading books.
 
£49,000 Wills & Co Stockbrokers 31/10/07 For failing to ensure that its customers understood the risks involved with penny shares, and for being unclear, unfair and misleading when advising on the shares.  
£10,500 Minel Group Ltd 18/10/07 For exposing consumers to the risk of being sold an unsuitable equity release (lifetime) mortgage.  
£49,000 Richard Hayes, Chief Director of Hadenglen Home Finance 06/09/07 For inadequate systems and controls when recommending re-mortgages and Payment Protection Insurance (PPI) to customers.
  
£133,000 Hadenglen Home Finance
 06/09/07 For inadequate systems and controls when recommending re-mortgages and Payment Protection Insurance (PPI) to customers.

 
£10,500 Select Mortgage Services 03/09/07 For poor financial promotions, inadequate sales processes and inappropriate systems and controls to manage its business.
 
£10,500 Council Homebuyers (Midlands and North) Limited
01/08/07 For management failings following the quality of mortgage advice processes work.  
£10,500 Lawrence Scoffield Mortgages Limited
 01/08/07 For management failings following the quality of mortgage advice processes work.
 
£42,000 Kilminster Financial Management Limited 11/06/07 For management and complaints handling failings from 1 January 2004 to 23 August 2006.  
£122,500 Charterhouse Consulting Wealth Management Limited 15/05/07 For carrying out discretionary portfolio management without permission and for various conduct of business failings.  
£350,000 BNP Paribas Private Bank 10/5/07 For weaknesses in its systems and controls which allowed a senior employee to fraudulently transfer £1.4 million out of clients' accounts without permission.  
£330,000
 Sesame Limited 19/04/07 For failing to treat its customers fairly by not handling complaints concerning Structured Capital At Risk Products (SCARPs) adequately  
£30,000 David Whistance 12/04/07 For failing to exercise due skill, care and diligence in carrying out his role and for failure to take reasonable steps to ensure the firm's accounting procedures and records complied with regulatory requirements
  
£52,500 Roberto Casoni 20/03/07
 For failing to observe proper standards of market conduct while carrying out his role as an Approved Person  
£14,000 Regency Investment Services 22/02/07 For failing to obtain adequate customer information to advise effectively on income withdrawal.  
£175,000 Capital One Bank (Europe) Plc 15/02/07 Not having adequate systems and controls in place to sell payment protection insurance and for failing to treat its customers fairly.
  
£980,000 Nationwide Building Society 14/02/07 Failing to have effective systems and controls to manage its information security risks  
£10,500 Trigon Pensions Limited 12/02/07 Failing to monitor advisers effectively at its appointed representative, Trigon Financial Services  
£610,000 GE Capital Bank 30/01/07 Systems and controls failings in selling insurance including Payment Protection Insurance, and failing to treat its customers fairly.  
£560,000 W Deb MVL Plc
(formerly Williams de Broe Plc)		 18/01/07 For breaches of FSA principles  

 

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