Invesco Fined $31.3 Million for Risk-Limit Failings in U.K.
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Invesco Perpetual was fined 18.6 million pounds ($31.3 million) for failing to comply with risk limits or tell clients about the use of derivatives as leverage in their funds.
Invesco Perpetual, the largest retail investment manager in the U.K., didn’t comply with investment limits over a four-year period until November 2012, leading to 5 million pounds in losses, the Financial Conduct Authority, the U.K. markets regulator, said in a statement today.