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Name | Symbol | Market | Type |
---|---|---|---|
Aviva PLC (PK) | USOTC:AVVIY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 0.42% | 12.02 | 11.78 | 12.06 | 12.05 | 11.78 | 11.95 | 20,628 | 21:00:29 |
By Rory Gallivan
LONDON--The U.K.'s Financial Conduct Authority fined Aviva PLC (AV.LN) 8.2 million pounds ($10.4 million) over failings in its protection of client assets.
The FCA Wednesday said it fined Aviva Pension Trustees U.K. Ltd. and Aviva Wrap U.K. Ltd. "for failings in its oversight of its outsourced providers in relation to the protection of client assets."
The FCA said that no clients lost money due to Aviva's failings, but added the company failed to put adequate controls in place over third-party administrators of clients' assets.
Aviva agreed to an early settlement and received a 30% discount to the GBP11.8 million fine it would otherwise have received.
Aviva shares at 0921 GMT, were up a penny, or 0.3%, at 449 pence, valuing the company at GBP18.22 billion.
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan
(END) Dow Jones Newswires
October 05, 2016 05:45 ET (09:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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