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FSA fines Shell £17m for market abuse and breaching of rules

The FSA has fined Anglo-Dutch oil giant Shell £17m for market abuses and breaching the listing rules when misstating its reserves. The FSA says the penalty would have been significantly higher were it not for Shell&#39s cooperation with the investigation.

When Shell first announced it had misstated its reserves its share price fell by £2.9bn, approximately 7.5 per cent of its market capitalisation on that day.


Independent view

What makes a good adviser? It is quite a hard question to answer because it is not a tangible and uniform attribute. What makes an adviser successful with a particular client group may not translate to success in another. Turning back the clock and recalling how it was in early days when you have been […]

Clerical comes in with improved look

Clerical Medical has improved its income drawdown product by introducing a flexible charging structure and adding external fund links. The retirement options plan provides alternatives to buying an annuity, such as income drawdown, phased annuity purchase and partial self-investment. It offers 21 Clerical Medical funds,14 external funds from Newton, Schroders and UBS plus balanced, cautious […]

Asking prices falling as more properties stay on the market

The average asking price for a house in the UK fell by 2 per cent in the past month, according to data from market analyst Rightmove. The company says the fall is likely to have been caused by the series of int-erest rate rises. The average property price fell from £196,198 on July 10 to […]

Nvesta gears up for security

Nvesta has brought out the secure multi-tracker plan, a guaranteed equity bond linked to the performance of three stockmarket indices &#45 the FTSE 100, S&P 500 and Nikkei 225. The bond has a term of six years and provides a full capital guarantee regardless of the performance of the indices. Investors will also receive 110 […]


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