SFA Orders Double-Check On Salomon London Operation
The U.K.'s Securities and Futures Authority (SFA) has issued a notice imposing special conditions on Salomon Brothers International's authorisation to continue its investment business in the U.K.
The regulator announced its intention to double-check Salomon's procedures on October 12. The SFA's move follows revelations earlier this year that Salomon's London operation had lost some $200 million due to inconsistencies between its front and back office valuation methods.
The SFA sent a team of
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