FCA fines Henderson £1.9m for overcharging clients in 'closet trackers'

More than 4,500 retail investors affected

Anna Fedorova
FCA fines Henderson £1.9m for overcharging clients in 'closet trackers'

The Financial Conduct Authority (FCA) has fined Henderson Investment Funds Limited (HIFL) nearly £1.9m for overcharging retail investors in its Henderson Japan Enhanced Equity and the Henderson North American Enhanced Equity funds.

The total fine of £1,867,900 was issued for failing to treat fairly some 4,500 retail customers invested in the two funds, which breached Principle 6 of the FCA's Principles for Business. The fine relates...

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