FCA fines Merrill Lynch £34.5m for failing to report transactions

Under the rules of EMIR

Anna Fedorova
clock • 1 min read

The Financial Conduct Authority has fined Merrill Lynch International (MLI) £34.5m for failing to report a number of exchange-traded derivatives transactions.

The regulator has fined the financial giant £34,524,000, after it was found MLI has failed to report 68.5 million exchange-traded derivative transactions between 12 February 2014 and 6 February 2016. The move marks the first enforcement action against a firm for failing to report details of trading in exchange-traded derivatives, under the European Markets Infrastructure Regulation (EMIR), which the FCA said reflects the importance it places on this type of reporting. This reporting requirement was one of the key reforms introduced following the financial crisis in 2008 to improve tra...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

Trustpilot