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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.

Company Fined

Date of Fine

Amount of Fine

Shell

August 2004

£17.00 million

Credit Suisse First Boston

December 2002

£4.00 million

Abbey National

December 2003

£2.32 million

Lloyds TSB

September 2003

£1.90 million

Royal & Sun Alliance

August 2002

£1.35 million

HBOS

January 2004

£1.25 million

Northern Bank

August 2003

£1.25 million

Abbey Life Assurance

December 2002

£1.00 million

Royal & Sun Alliance

March 2003

£0.95 million

ABN Amro Equities

April 2003

£0.90 million


 
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