UK's Financial Conduct Authority: Cenkos Securities Fined For Failure To Maintain The High Standards Required Of A Firm Providing Sponsor Services

The Financial Conduct Authority (FCA) has today fined Cenkos Securities plc (Cenkos) £530,500 for failures in its sponsor services business.  Cenkos failed to have appropriate systems and controls in place across its sponsor services business, and, on a particular transaction, failed to act in its sponsor role with the level of diligence and professional care that the FCA expects.