The UK’s biggest energy supplier, British Gas, mis-sold energy deals by making exaggerated claims to potential customers, the regulator has said.
Ofgem said British Gas sales staff did not make accurate comparisons between suppliers’ deals, and so made overblown claims about savings for switching.
The cases involved British Gas staff working in Sainsbury’s stores nationwide between 2011 and 2013
Goldman Sachs has been fined $800,000 by a US regulator for “failing” to ensure that trades in its dark pool took place at the best price.
The regulator said more than 395,000 trades were executed in the bank’s Sigma X dark pool at an inferior price during an eight-day period in 2011.
But it added that Goldman was “unaware” of the issue at the time
Payday lender Wonga must pay £2.6m in compensation after sending letters from non-existent law firms to customers in arrears.
The letters threatened legal action, but the law firms were false
Barclaycard has received the maximum possible fine for the “most serious and persistent” case of silent calls ever seen by regulator Ofcom.
The credit provider was hit with a £50,000 fine after an Ofcom investigation uncovered an extremely high number of silent calls.
Typically, these occur when call centres with automated systems dial more numbers than staff can deal with
New York State’s attorney general has threatened to sue Merrill Lynch for misrepresenting certain debt investments as safer than they were.
Andrew Cuomo said that legal action against the US bank was “imminent” after it failed to settle charges of mis-selling with regulators.
Last week, Merrill Lynch offered to buy back $12bn (£6bn) of auction-rate debt
Morgan Stanley and JP Morgan Chase have agreed to buy back more than $7bn of securities and pay fines to settle allegations that they misled investors.
The deals were with the New York Attorney General and other regulators.
The Wall Street banks were accused of marketing debt products, called auction-rate securities, as much safer than they were
Finance firm Citigroup is set to buy back billions of dollars worth of securities, as part of a settlement with the US financial regulator.
The deal with the Securities and Exchange Commission (SEC) comes after an investigation into whether the bank breached securities rules.
The SEC had looked at the sale and marketing of a bond often used by municipal authorities to raise funds
The Swedish lorry maker AB Volvo has agreed to pay millions of dollars in fines in connection with an inquiry into Iraq’s UN oil-for-food programme.
It will pay a $7m (£3.5m) fine to the US Department of Justice (DOJ) and $4m in civil fines to the Securities and Exchange Commission
The European Commission has fined US computer giant Microsoft for defying sanctions imposed on it for anti-competitive behaviour.
Microsoft must now pay a record 899m euros ($1.4bn; £680
Regulators have confirmed a £20.3m ($40m USD) fine imposed on Southern Water for poor service and reporting misleading data.
Ofwat first announced the fine in November and confirmed it on Friday after a period of consultation