21 May 2012
Press Release
Tribunal upholds FSA decision to ban and fine former UBS advisers £1.3m for not being fit and proper in relation to an unauthorised trading scheme
The Upper Tribunal (Tax and Chancery Chamber) has directed the Financial Services Authority (FSA) to fine Sachin Karpe £1.25 million and Laila Karan £75,000 and ban them both from performing any role in regulated financial services for failing to act with integrity, in breach of Principle 1 of the FSA’s Statements of Principles and Code of Conduct for Approved Persons (“APER”) and for not being fit and proper persons.
18 May 2012
Final Notice
Carousel Finance Limited
[PDF]
16 May 2012
Press Release
FSA decides to ban BGC senior executive Anthony Verrier
The Financial Services Authority (FSA) has published a decision notice indicating that it has decided to prohibit Anthony Verrier (a senior executive at BGC) from performing any function in relation to any regulated activity in the financial services industry. The FSA believes that Verrier is not a fit and proper person due to concerns over his honesty, integrity and reputation.
16 May 2012
Final Notice
Fawad Afzal Choudhry
[PDF]
15 May 2012
Press Release
FSA fines Habib Bank AG Zurich £525,000 and money laundering reporting officer £17,500 for anti-money laundering control failings
The Financial Services Authority (FSA) has fined Habib Bank AG Zurich (Habib) £525,000 and its former Money Laundering Reporting Officer (MLRO) Syed Itrat Hussain £17,500 for failure to take reasonable care to establish and maintain adequate anti-money laundering (AML) systems and controls.
15 May 2012
Speech
Solvency II and the London Market
Speech by Julian Adams at the Insurance Day Summit
11 May 2012
Press Release
FSA fines and bans Scottish broker £335,204 for insurance fraud and bans and censures his wife
The Financial Services Authority (FSA) has fined Donald McKee Morgan, a partner in the firm of Donald Morgan Insurance Services (DMIS), £335,204 for committing insurance fraud. Morgan, who was based in Ayrshire, Scotland, has also been banned from carrying out any regulated financial services activity in the future.
11 May 2012
Corporate
Framework Memorandum of Understanding between regulators of Multi-Disciplinary Practices
[PDF]
10 May 2012
Press Release
FSA fines Martin Currie £3.5 million for failing to manage a conflict of interests between clients
The Financial Services Authority (FSA) has fined Martin Currie Investment Management Limited and Martin Currie Inc (together, Martin Currie) £3.5 million for failing to manage a conflict of interest between two of its clients. This is the largest fine ever imposed by the FSA in a conflict of interest case. In addition to the fine issued by the FSA, the Securities and Exchanges Commission (SEC) is also fining Martin Currie in the US.
10 May 2012
Press Release
FSA publishes Recovery and Resolution Plan (RRP) update
The Financial Services Authority (FSA) has published a feedback statement setting out the approach being taken by the FSA to ensure firms develop appropriate recovery plans and resolution packs.
10 May 2012
Press Release
Martin Wheatley addresses the Building Societies Association’s Annual Conference
Martin Wheatley, managing director of the Financial Services Authority (FSA) and CEO designate of the Financial Conduct Authority (FCA), yesterday stressed that building societies must continue to be committed to their members, and that the regulator would “treat everyone the same, big or small, bank or building society”.
10 May 2012
Final Notice
Mortgages UK 1970
[PDF]
10 May 2012
Final Notice
Paulo Monteiro trading as Bunn & Co
[PDF]
10 May 2012
Feedback Statement
Recovery and Resolution Plans
This Feedback Statement reports on developments from the Consultation Paper 11/16 (Recovery and Resolution Plans).
09 May 2012
Speech
Building Societies Association annual conference
Speech by Martin Wheatley at the Building Societies Association
09 May 2012
Final Notice
Syed Zaidi
[PDF]
08 May 2012
Press Release
FSA bans executive chairman of wholesale insurer and imposes fines of almost £3.5million on the firm
The Financial Services Authority (FSA) has fined Mitsui Sumitomo Insurance Company (Europe) Ltd (MSIEu) £3,345,000 for serious corporate governance failings, and imposed a ban and fine of £119,303 on its former executive chairman, Yohichi Kumagai.
08 May 2012
Press Release
Insider dealer ordered to pay £570,000 in confiscation
A Confiscation Order of £572,283.21 has today been made against Rupinder Sidhu. A costs order was also made in favour of the Financial Services Authority (FSA) who brought the case. This follows his conviction at Southwark Crown Court on 15 December 2011 for 22 counts of insider dealing, for which he was sentenced to 2 years in prison.
08 May 2012
Final Notice
Mitsui Sumitomo Insurance Company (Europe) Ltd
[PDF]
08 May 2012
Final Notice
Yohichi Kumagai
[PDF]
Back to top
