FSA has fined two firms for transaction reporting failures. It found:

  • Plus500UK Limited, an online contracts for differences trading facility provider, carried out 1,332,000 reportable transactions over an 18-month period. FSA found the firm failed to report any of these accurately and failed to report 189,000 of them at all. It fined the firm £205,128; and
  • James Sharp and Co., an independent stockbroker, failed to report any of the approximately 71,000 reportable transactions it undertook in a period of just over three years. FSA fined it £49,000.

(Source: FSA Issues Fines for Transaction Reporting Failures)