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FSA blunder “fines” 400 firms for overdue returns

The FSA has mistakenly requested a £250 fine from 400 firms who were told they owed the penalty for overdue regulatory returns.

An email was sent to 400 firms yesterday which was intended to remind firms about an upcoming deadline to submit their regular returns to the regulator.

Instead firms received a different email which told them that they had missed the deadline and were now subject to a £250 penalty.

An FSA spokeswoman says: “We send out a standard email reminder to firms ahead of them having to submit information to us. We sent out the wrong email which basically said ’you have missed the deadline.’

“As soon as we realised the error we sent out a second email later that day apologising to the firms affected.”


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There are 4 comments at the moment, we would love to hear your opinion too.

  1. Perhaps a case of “fat finger syndrome” at the FSA?!

  2. I assume the person responsible will be fined and lose their Job. oops Pink Pigs may Fly. One rule for the regulators and one for the rest of us.

  3. A spokesperson for the FSA said: “Yeah, I know, we screwed up yet again, it happens all the time, but don’t make a big thing of it, we’re only public sector workers after all.”

  4. Julian, you naughty boy!

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