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-Santander fined by FSA.

Global Banking News-February 21, 2012--Santander fined by FSA(C)2012 ENPublishing -

Global Banking News - 21 February 2012

According to Bloomberg, Banco Santander SA (SAN.MC) was fined GBP1.5m by the UK's FSA.

The bank was fined for not informing its customers that a government investment-protection programme did not cover some structured products that it sold. The FSA said that the bank should have changed its product literature and training material for structured products between October 2008 and January 2010.

The regulator said that the financial firm's investors had not suffered losses because of the lapse.

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Publication:Global Banking News (GBN)
Date:Feb 21, 2012
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