The Financial Conduct Authority has issued Link Fund Solutions with a draft Warning Notice, proposing a £50m penalty fee in addition to its already announced £306m redress payment.
Issuing an update following a Link Group stock exchange announcement, the FCA confirmed it had issued the draft Warning Notice to Link Fund Solutions, which now has 14 days to respond. This notice provides LFS with an opportunity to resolve the case by agreement, after which time the company will be able to challenge the regulator's findings at the Regulatory Decisions Committee and Upper Tribunal. The proposed £50m fine does not include any discounts available for prompt settlement and is in addition to the £306m redress fee already likely to be imposed owing to "LFS failings in mana...
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