FSA fines Nomura £1.75m for 'failings'
NOMURA was yesterday fined £1.75 million by the Financial Services Authority for "widespread systems and controls failings around book marking" in its international equity derivatives business.
The watchdog said the failings were particularly serious because they were "fundamental and systemic" and persisted over a prolonged period of time, until they were identified by Nomura in June 2008.
Nomura co-operated with the FSA inquiry and so a discount was applied to the fine. Without that, the penalty would have been 2.5m.
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Tuesday 14 February 2012
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