ICE lands SFA's biggest fine to date

Professional Adviser
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The SFA handed out its largest fine to date this week after it hit stockbroking and corporate f...

The SFA handed out its largest fine to date this week after it hit stockbroking and corporate finance firm ICE Securities (ICE) with a £1m penalty. The severe reprimand was handed out after ICE paid three of its customers $3,900 per share for 500 shares which were worth at least $18,000 each. It meant the customers in question only received approximately 20% of the amount due to them while the remaining profit was retained by ICE. Christopher Woodgate, the former chief executive, chairman and majority shareholder of ICE has subsequently been expelled from all SFA's registers. ICE paid...

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