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Global Banking News - 21 February 2012
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Bloomberg, Banco Santander SA (SAN.MC) was fined GBP GBP
In currencies, this is the abbreviation for the British Pound.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.5m 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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