City editor of Sky News, City AM columnist and Charlton Athletic fan. London Press Club Business Journalist of the Year 2011.
Sources tell me the fine is largest for this type of misconduct and is intended by FCA as a warning to other banks guilty of lax controls.
Barclays' fine will be one of the biggest-ever imposed by the FCA and follows £1.1m penalty for identical offences in 2011.
Exclusive: Barclays to be hit by £38m FCA fine tomorrow for failing to properly segregate client assets. bit.ly/1x1BNvc
Exclusive: Carlyle kicks off sale of London cab firm Addison Lee; BC Partners, CVC Capital, Charterhouse invited to participate in auction.
Worth noting that Mark Armour, a non-executive director of Tesco, is a director of the accounting watchdog, the Financial Reporting Council.
Forgive me - the Tesco UK finance director is called Carl Rogberg, not Rojberg as per my last tweet.
I've learned that Carl Rojberg, Tesco's UK finance director, is among the executives suspended by the company over the weekend.
@discountinvestr Pretty much.
Intriguing question posed by an M&A banker: does today's share price fall leave Tesco vulnerable to opportunistic takeover bid?
Tesco chairman Sir Richard Broadbent: "Things are always unnoticed until they're noticed."
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