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
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
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
British Gas has been fined £2.5m by the regulator Ofgem for the way in which it deals with customer complaints.
Ofgem ruled that the company had failed to re-open complaints when customers said they had not been resolved
Four car glass makers have been hit with the European Commission’s largest cartel fine after being found guilty of “cheating” car buyers.
Asahi Glass, Pilkington, Saint-Gobain and Soliver have been ordered to pay 1.38bn euros (£1
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
A mortgage firm has been fined £1.12m after failures resulted in hundreds of borrowers suffering losses of £2.3m
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