Firm history · FRN 141455

WBS SOLUTIONS LIMITED

FRN 1414551 enforcement actionTotal fines · £4,000,000

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01 · Enforcement history

All actions on record.

25 Oct 2010

Fines

The FSA published a Final Notice on 22 April 2010 fining Winterflood Securities Ltd £4,000,000 for market abuse connected to trading in Fundamental‑E Investments Plc. The regulator found Winterflood, acting as a market maker, mis‑used and delayed ‘rollovers’, creating a distortion in the market and misleading investors for about six months in 2004. The FSA said the trades had unusual features that should have alerted Winterflood to a clear and substantial risk of manipulation, but the firm continued the highly profitable trading rather than taking steps to ensure the trades were genuine. The FCA register records the action on 25 October 2010.

Date	Action	Description
25 Oct 2010	Fines	The FSA published a Final Notice on 22 April 2010 fining Winterflood Securities Ltd £4,000,000 for market abuse connected to trading in Fundamental‑E Investments Plc. The regulator found Winterflood, acting as a market maker, mis‑used and delayed ‘rollovers’, creating a distortion in the market and misleading investors for about six months in 2004. The FSA said the trades had unusual features that should have alerted Winterflood to a clear and substantial risk of manipulation, but the firm continued the highly profitable trading rather than taking steps to ensure the trades were genuine. The FCA register records the action on 25 October 2010.

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