FSA has fined Sir Ken Morrison, former Chairman of Wm Morrison, £210,000 for failing to disclose his reduced shareholding and voting rights in Wm Morrison Supermarkets Plc in breach of the Disclosure and Transparency Rules (DTR). Over a couple of years, Sir Ken had gradually reduced his voting shareholding, failing to notify Wm Morrison when his shareholding went below four notifiable thresholds. FSA said that, although Sir Ken did not profit from the breach, it meant Wm Morrison could not update the market as it should have, so the market was misled and Wm Morrison published misleading details of Sir Ken’s shareholding. Tracey McDermott said significant shareholders should recognise their obligations to allow markets to be kept informed. (Source: Sir Ken Morrison Final Notice and Press Release)