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The U.K. regulator has hit Threadneedle with a £6m ($8.9 million) fine after a fraudulent trade made in 2011 revealed weakness in the controls for its fixed income operation.
After providing inaccurate information to a U.K. regulator about its fixed income trading processes in 2011, U.K.-based Threadneedle Asset Management Ltd. fell prey to a fraudulent trade made via its emerging markets debt desk, according to the Financial Conduct Authority (FCA), which fined the firm £6,038,504 ($8.9 million) on Dec. 15, 2015, according to the...
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