Commerzbank latest firm caught out by FSA for transaction reporting failures

The London branch of Commerzbank has been fined £595,000 for failing to provide accurate and timely transaction reports, as the UK’s Financial services Authority (FSA) intensifies its monitoring of market transactions to prevent abuse.

“We will be undertaking regular reviews of the quality and completeness of firms’ submissions. We expect firms now to be fully compliant with the transaction reporting requirements. Where we identify problems with transaction reporting we will consider the use of

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