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BUSINESS / COMPANIES
List: Top Ten Fines Levied by the UK Financial Services Authority
Date: As at end 2004
Source: Financial Services Authority (FSA)
Base: All companies fined by the FSA for improper conduct
Notes: Royal Dutch Shell lead the list by quite some distance, whilst the other nine entries are financial services companies. Shell were fined "for committing market abuse and breaching the listing rules... in relation to misstatements of its proved reserves." This came on top of a US$120 million settlement that Shell agreed to pay the U.S. Securities & Exchange Commission. Ouch.
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Company Fined
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Date of Fine
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Amount of Fine
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Shell
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August 2004
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£17.00 million
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Credit Suisse First Boston
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December 2002
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£4.00 million
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Abbey National
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December 2003
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£2.32 million
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Lloyds TSB
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September 2003
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£1.90 million
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Royal & Sun Alliance
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August 2002
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£1.35 million
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HBOS
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January 2004
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£1.25 million
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Northern Bank
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August 2003
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£1.25 million
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Abbey Life Assurance
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December 2002
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£1.00 million
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Royal & Sun Alliance
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March 2003
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£0.95 million
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ABN Amro Equities
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April 2003
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£0.90 million
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