The Financial Services Authority (FSA) has ordered Threadneedle to file a report on its systems and controls with regards to a rogue trade of Argentine warrants, according to reports.
According to the Daily Telegraph, the attempted transaction is understood to concern more than a billion Argentine warrants traded by former employees of Russian group Otkritie. This led to the FSA handing out a section 166 order to Threadneedle, the paper reports. An order of this nature requires a company to produce third-party reports on internal processes for the regulator. However, the FSA was unable to comment on whether such an order had been issued to Threadneedle. Threadneedle said in a statement: "In August 2011, our systems stopped a suspicious attempted trade. The matter w...
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