FCA issues £15.5m in fines to fill hole caused by Eric, Balva and Millburn failures
The Financial Conduct Authority has fined five individuals and two firms a total of £15.5m for their part in a market failure that left hundreds of solictors without valid cover.
In addition four of those individuals have been banned for significant integrity and competence failings. It follows an early intervention action taken jointly by the FCA and Prudential Regulation
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