Home Business NewsBusiness Broker reaches FCA settlement in long-standing case

Broker reaches FCA settlement in long-standing case

by LLB Editor
11th Oct 19 8:18 am

TP ICAP says its subsidiary Tullett Prebon has reached a £15.4m settlement with the Financial Conduct Authority into an investigation in to trading between 2008 and 2011.

The FCA found that certain former managers in TP ICAP’s global broking division and in its compliance department “failed to act with due skill, care and diligence”

Nicolas Breteau, chief executive of TP ICAP said: “We are pleased to put this historical matter behind us. None of the individuals involved in the relevant broking activities remain with our firm, which has long since taken the opportunity to significantly enhance its systems and controls to comply with regulatory expectations”.

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