Tag Archives: Conflict of Interest

UK FCA Conflict Interest Policy

On Jan. 2, UK FCA issued conflict of interests policy document. Conflict of Interests Policy exists to protect employees, the FCA, the PSR and public. Work must be carried out in an environment free from conflict or improper influence. Must be able to publicly defend actions of those who work for it, in relation to…
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UK FCA Angela Burns Fine/Ban

On Dec. 14, UK FCA fined, banned NED £20k for conflict of interest. Angela Burns banned from acting as non-executive director (NED), fined £20,000. Allegations Experienced UK investment professional, chief executive of investment consultancy. She acted as NED at two mutual societies and chair of their investment committees. Participated in discussions about Vanguard Asset Management…
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SEC Merrill Advisory Conflicts

On Aug. 20, SEC $8.9mn Merrill settlement on advisor conflicts. Firm will pay $8.9mn for failed to disclose conflict of interest from own business. In deciding if to continue to offer clients product managed by third-party advisor. Alleged Violations Conflict arose in handling third-party products of US subsidiary of a foreign bank. Over 1,500 of Merrill’s…
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