Channel Islands Stock Exchange fined £190,000 over Arch cru

The Channel Islands Stock Exchange has been fined £190,000 for its role in the failure of the Arch cru funds.

The Guernsey Financial Services Commission (GFSC) said in a statement it had concluded an investigation into the stock exchange in relation to possible market manipulation and irregular trading around the Arch cru funds. Started two years ago, the investigation concluded in January after the exchange opted for a settlement agreement. That agreement has only now been made public, as GFSC was considering taking action against individuals at the exchange. As part of the settlement, the GFSC said the exchange had paid a fine of £190,000 after it admitted it "was seriously at fault" in rel...