This is some text prior to the author information. You can change this text from the admin section of WP-Gravatar To change this standard text, you have to enter some information about your self in the Dashboard -> Users -> Your Profile box. Read more from this authorAs if trying to impress it’s new boss, the Financial Services Authority (FSA) has been handing out more fines to banking institutions who have failed to handle PPI claims and complaints or act appropriately. The most recent lender to get a note on their windscreen is German financial services outfit Commerzbank, receiving a £595,000 fine for failing to accurately report trading data.
The FSA give regular and repeated reminders to banking firms of their obligations to provide accurate data but despite this; Commerzbank failed to recheck its submitted figures. The watchdog also discovered reporting failures at Barclays Capital and earlier fined Credit Suisse, Getco Europe and Instinet Europe a total of £4.2m on the same charges. It’s good to see the the banks getting a wrap on the knuckles but we fear it just seems all too much like a £100,000 a-week footballer getting a £60 speeding fine.
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