UK regulators fine US fund services firm


LONDON -- UK financial regulators in March fined Bisys Fund Services, a unit of US-based Bisys Group, £300,000 ($426,000) for serious failures in the administration services it provided to fund managers.

The fine is the largest imposed by the Investment Management Regulatory Organisation (Imro), the UK’s investment management watchdog, on a non-UK company.

The rule breaches occurred between December 1998 and September last year and involved problems across a range of areas, Imro said.

As a result

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