Santander UK fined for widespread investment advice failings
The Financial Conduct Authority (FCA), the British financial regulatory authority, has fined Santander UK Plc the amount of £12,377,800 after the regulator uncovered serious failings in the way it offered financial advice from its bank.
In particular, there was a significant risk of Santander UK giving unsuitable advice to its customers, its approach to considering investors’ risk appetites was inadequate, and for some people it failed to regularly check that investments continued to meet their needs – despite promising to do so.
For full press release visit FCA.
