Arch Cru errors cost Channel Island Stock Exchange £190k fine

The Guernsey Financial Services Commission, which regulates the exchange, launched an investigation in 2012 into transactions in the Arch Cru funds which had been flagged for possible market manipulation and other forms of irregular trading. It found enough evidence of failure to broker a settlement deal with the CISX in January, in which the exchange admitted that it was seriously at fault and accepted a £190,000 fine. However the decision was not made public while the Commission continued its investigation into, among others, the chief executive of the CISX at the time of the proble...