Bloomberg News

U.K. FSA Fines Towry Investment $773,000 Over Incorrect Data

September 29, 2011

Sept. 29 (Bloomberg) -- The U.K.’s Financial Services Authority fined Towry Investment Management Ltd. 494,000 pounds ($773,000) for misleading the regulator and failing to comply with client money rules, the FSA said in an e-mailed statement today.

The company “failed to maintain adequate records” of client money and provided “inaccurate information” to the FSA, the regulator said. Towry earned a 30 percent discount on the fine by agreeing to settle at an early stage.

To contact the reporter on this story: Ben Moshinsky in Brussels at bmoshinsky@bloomberg.net

To contact the editor responsible for this story: Christopher Scinta at cscinta@bloomberg.net


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