The fine is more than twice the size of the FSA
's previous record penalty on an individual -- a 2.8 million pounds ($4.5 million) fine on former broker Simon Eagle for market abuse last year -- as it was calculated under a new penalty regime.
considered Roberts' misconduct particularly serious as it meant that customers were at risk of receiving unsuitable advice and, for a period of time, A-Z was at risk of being used for financial crime.
In total, the FSA
has imposed fines of over [pounds sterling]8.5 million on European banks for having inadequate reporting arrangements since August 2009.
sent out a warning shot to the industry last year after discovering that a number of firms had not been segregating client money adequately.
on tel 020 7276 8888 or visit www.food.gov.uk
The individual is also eligible to participate in an FSA
program that allows the loss (or a portion of the loss) to be paid out of pretax dollars.
Mr Sants said: "I am very proud of the manner in which the FSA
rose to the challenge of dealing with such unprecedented turbulence across global financial markets.
"Regardless of the future of FSA
accounts, drugstore.com will always be a reliable source for value-minded consumers to their health care needs."
will mail ballots to eligible voters beginning Nov.
OIG said FSA
's reports sometimes lacked required information, including whether FSA
met its goals and legal requirements, evaluations of chief managers and recommendations for regulatory or legislative changes.
And the FSA
added that anyone who has arranged a mortgage, re-mortgage, insurance or investment through Pure Money should check with the product provider to find out whether the contract is valid.
got its start in the aftermath of a number of banking scandals in the 1990s.