A Tribunal hearing in the Winterflood market abuse hearing has taken place. In July 2008, it was reported that the FSA proposed to fine Winterflood Securities, the market making arm of Close Brothers, £4 million and two traders £200,000 each in relation to the execution of trades in AIM-listed shares (Winterflood press release, 11 March 2009).

A mortgage broker has been prohibited for submitting false mortgage applications, misleading the FSA and a lack of competence and capability in implementing adequate systems and controls (Mr Anthony Abiona trading as Renbe Associates, 11 March 2009).

A supervisory notice has been issued to Straumur-Burdaras Investment Bank hf prohibiting it from transferring (or creating any security interest over) any of its UK assets or incurring or increasing any UK liabilities due to a failure to maintain adequate resources (Straumur-Burdaras Investment Bank hf, (PDF 50.6KB), 9 March 2009