FSA fines Credit Suisse and two others £4.2m for transaction reporting failures

The Financial Services Authority (FSA) has fined three firms a total of £4.2 million for failure to report transactions fast and accurately.

Swiss investment bank Credit Suisse was fined £1.75 million, market-maker Getco Europe was fined £1.4 million and agency broker Instinet Europe was fined £1.05 million by the UK regulator.

The FSA said firms are required as part of its market abuse regime to have proper systems and controls in place to ensure they submit accurate data for reportable

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