Five banks £1.1 billion for FX failings
RBS, NatWest and Ulster Bank have been fined a total of £42m for IT failures in June 2012.
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The PSR has announced its proposals for regulating the UK’s payment systems.
We have fined five firms for foreign exchange failings.
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Speech by Deb Jones, director of competition at the FCA, at a Scottish Financial Enterprise lunch, hosted by Maclay Murray & Spens LLP, Edinburgh.
The FCA has taken this action against the Banks for failing to put in place resilient IT systems which could withstand, or minimise the risk of, IT failures.
Speech by John Griffith-Jones, Chairman of the FCA, at the APFA Annual Gala Dinner delivered at Banking Hall, London.
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