Impendium Systems: FCA Expects Firms to Get It Right

RBS transaction reporting fine emphasises that FCA expects firms to get it right

The Financial Conduct Authority (FCA) has announced that it has fined the Royal Bank of Scotland (RBS) £5,620,300 for incorrectly reporting transactions it made in wholesale markets, and in some instances, failing to report transactions at all.  RBS agreed to settle and qualified for a 30% reduction in the financial penalty which would otherwise have been £8,029,100.

 

RBS had failed to properly report 44.8

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