fines

The FSA has fined Credit Suisse £2.5m - reduced to £1.75m due to early settlement - for failing to submit accurate transaction reports.

Many advisers have not been properly trained to use pension transfer tools, despite massive uptake in their use since an FSA review in 2008.

The FSA has today issued its second fine in as many weeks over concerns on pension switching advice, but it is interesting to note case checking has been of particular interest to the regulator.

Bromley mortgage broker Dele MacAulay has been jailed for 21 months for knowingly submitting nine fraudulent mortgage applications for himself, his wife, and his brother.

The FSA has ordered RSM Tenon Financial Services to undertake a review of its pension switching business going back almost four years amid concerns about the suitability of advice.

RSM Tenon Financial Services has been fined £700,000 by the FSA for its poor sales and advice processes relating to Lehman-backed structured products.

Censured IFA Park Row reduced the number of cases it checked for compliance in 2008, despite multiple warnings from the FSA.

A ex-BlueBay hedge fund manager has been fined £140,000 and banned by the FSA for misleading investors and the regulator.

A former research analyst, Robin Chhabra and his friend Sameer Patel, a spread better, have been found guilty of market collusion and fraud by the Financial Services and Markets Tribunal (the Tribunal).

Financial advisers are being warned to tighten their data security as new powers mean they could be fined TWICE for breaches.