FCA slaps Tullett Prebon with £15.4m fine

Pedro Gonçalves
clock • 2 min read

The FCA has fined Tullett Prebon £15.4m in relation to a number of conduct failures in its broking division. The Financial Conduct Authority (FCA) said Tullett Prebon failed to conduct its business with due skill, care and diligence, failed to have adequate risk management in place and failed to be open an co-operative with the FCA. The regulator alleged that the firm's rates unit reported improper trading activity, including wash trades that "involves no change in beneficial ownership and has no legitimate underlying commercial purpose". At one point, a Tullett Prebon broker claim...

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