FSA hits companies for £4.2m over opaque financial data
Credit Suisse and two others receive fines for multiple breaches of market regulations
Three companies have been fined a total of £4.2m for failing to provide
accurate and timely financial data to the Financial Services Authority.
Credit Suisse received the largest fine of £1.75m, with Getco Europe hit for
£1.4m and Instinet Europe out of pocket to the tune of £1.05m.
The fines were for multiple breaches of requirements to submit accurate data
for transactions the day after the trade takes place. This data is used by the
FSA to identify market abuse, insider trading and market manipulation, reports