FSA fines Seymour Pierce for missing £150,000 theft

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The FSA has fined London-based investment bank and stockbroker Seymour Pierce Limited £154,000 for failing to detect employee fraud carried out over three years.

Seymour Pierce failed to notice the theft of about £150,000 from the firm's internal and private client accounts in 36 separate transactions. The illegal activity was only discovered by chance when...

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