2016 fines

This table contains information about fines published during the calendar year ending 2016. The total amount of fines is £22,216,446 (excluding Mr Shay Jacob Reches' additional penalty).

Firm or individual fined Date Amount Reasoning
Tariq Carrimjee 28/11/2016 £89,004 For breaches of APER 2 and FIT related to a lack of fitness/propriety in the investment adviser sector.
Steven Smith 12/10/2016 £17,900 For breaches of APER 6 and PRIN 3 (knowingly concerned) related to financial crime and a lack of fitness/propriety in the retail bank sector.
Sonali Bank (UK) Limited 12/10/2016 £3,250,600 For breaches of PRIN 3 and PRIN 11 related to culture/governance, failing to be open and co-operative and financial crime in the retail bank sector.
Aviva Pension Trustees UK Limited and Aviva Wrap UK Limited 05/10/2016 £8,246,800 For breaches of PRIN 3, PRIN 10, CASS Rules, SUP and SYSC related to client money/assets and culture/governance in the life insurance sector.
Elizabeth Anne Parry 01/09/2016 £109,400 For breaches of APER 1 and FIT in the investment adviser sector.
Cenkos Securities Plc 09/08/2016 £530,500 For breaches of listing rules in the sponsor sector.
Gavin Duncan Paul Breeze 15/07/2016 £59,557 For breaches of section 118(2) and (3) Financial Services and Markets Act 2000 related to market abuse in the issuer sector.
Timothy Duncan Philip 13/07/2016 £60,000 For breaches of APER 6 and FIT related to a lack of fitness and propriety and client money/assets in the general insurance and protection sector.
Towergate Underwriting Group Limited 13/07/2016 £2,632,000 For breaches of PRIN 3, PRIN 10 and CASS related to client money/assets in the general insurance and protection sector.
CT Capital Limited 01/06/2016 £2,360,900 For breaches of PRIN 3 and PRIN 6 related to complaints-handling and the unfair treatment of customers in the general insurance and protection sector.
Mark Samuel Taylor 13/05/2016 £36,285 For breaches of FIT as well as section 118(2) Financial Services and Markets Act 2000, related to market abuse and a lack of fitness/propriety in the wealth management and private banking sector.
Terence Andrew Joint 09/05/2016 £10,000 For breaches of APER 6, APER 7, FIT and CASS related to a lack of fitness/propriety and client money/assets misconduct in the general insurance and protection sector.
Timothy Alan Roberts 08/04/2016 £450,000 For failure to comply with Statement of Principles 1 and 6 of the Authority’s Statements of Principle for Approved Persons
W H Ireland Limited 23/02/2016 £1,200,000 For breaching PRIN 3 and SYSC related to market protection, culture/governance and conflicts of interest in the wealth management and private banking sector
Achilles Othon Macris 09/02/2016 £792,900 For Breaching Statement of Principle 4
Shay Jacob Reches 01/02/2016 £1,050,000 For breaching section 63A of the Financial Services and Markets Act 2000 and FIT
Shay Jacob Reches (additional penalty) 01/02/2016 £13,130,000 For breaching section 63A of the Financial Services and Markets Act 2000 and FIT
Colin J McIntosh 01/02/2016 £51,600 For breaching Statement of Principle 1,4 and 7. Also breaching FIT and certain applicable rules set out by CASS
Robert John Bygrave 01/02/2016 £37,400 For breaching Statement of Principle 6, FIT and certain applicable rules set out in CASS
Andrea Christine Sadler 01/02/2016 £18,700 For breaching Statement of Principle 6, FIT
Wayne Anthony Redgrave 01/02/2016 £38,600 For breaching Statement of Principle 6 and certain applicable rules set out by ICOBS
Millburn Insurance Company Limited (in administration) 01/02/2016 £1,137,500 For breaching Principle 11
Coverall Worldwide Ltd 01/02/2016 £36,800 For breaching Principles 1, 3 and 10 and certain applicable rules set out in CASS and COND