FCA orders Tesco to pay compensation after 'misleading' investors

In addition to £129m fine

Carmen Reichman
clock • 3 min read

The Financial Conduct Authority (FCA) has ordered Tesco to pay investors redress in the region of £85m after it found the company had engaged in market abuse.

The regulator said a trading update published on 29 August 2014 by Tesco had given a false or misleading impression about the value of publicly traded Tesco shares and bonds. Tesco has agreed to pay compensation to investors who purchased the company's shares and bonds on or after 29 August 2014 and who still held those securities when the statement was corrected on 22 September 2014. In addition, Tesco Stores Limited has entered into a deferred prosecution agreement (‘DPA') with the Serious Fraud Office (‘SFO') relating to false accounting, pursuant to which it will pay a fine of £12...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Compliance relics: The case against PDFs and screenshots

Compliance relics: The case against PDFs and screenshots

'Partial records or flattened archives are no longer sufficient'

David Clee
clock 09 July 2025 • 5 min read
FCA data request prompts SimplyBiz's sector-wide compliance session

FCA data request prompts SimplyBiz's sector-wide compliance session

Nearly 600 advisers sign up for July webinar on navigating new s165 data requirements

Sahar Nazir
clock 09 July 2025 • 2 min read
FCA data information request: Four focus areas for advisers

FCA data information request: Four focus areas for advisers

‘Data is not just a compliance tool it’s a strategic asset’

Chris Davies
clock 07 July 2025 • 5 min read