Thursday, 20 January 2011

FSA fines City Index £490,000 for transaction reporting failures

I'm worn out, so I'm going to write this post over the next three/four hours or so, and I'm going to play a bit of music, and we'll see what happens, yeah?

I think the best thing you can do is go over to the FSA's website and see what it has to say about City Index.

'Between November 2007 and September 2009, City Index failed to submit accurate transaction reports in respect of approximately 2 million transactions, representing nearly 60% of its reportable transactions. It failed to report approximately 55,000 transactions and reported approximately 1,970,000 transactions with one or more data fields completed improperly.' 

So what? Is it the end of the world? Does the FSA need to know everything? Can't it trust anyone? I'm sure the City Index guys aren't that bad, really. Oh, I don't know. At least the FSA won't be interfering with our subconsciousnesses ness nesses any time soon. Maybe we should be grateful for that. I mean, they tried it. But the astral plane was just too scary for them, man. We won't see them floating around again. Not in this lifetime. It'll all be over soon anyway. Some day this war's gonna end.