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Release Date: 8th January 2018

To access the original FCA document, click here.


The Financial Conduct Authority (FCA) has fined Neil Danziger, a former Royal Bank of Scotland (RBS) interest rate derivatives trader, £250,000 and banned him from performing any regulated financial activity. The FCA found Danziger guilty of failing to uphold proper market conduct standards and deemed him unfit for the financial services industry due to his reckless and unethical behaviour.

Key findings include:

Mark Steward, the FCA’s Executive Director of Enforcement and Market Oversight, emphasised that such reckless disregard for market standards is unacceptable in the financial services industry. The significant fine and ban underscore the FCA’s commitment to maintaining the integrity of the UK financial system.

Key Takeaways for Other Firms:

In conclusion, the FCA’s action against Neil Danziger serves as a critical reminder of the importance of maintaining high standards of conduct in the financial services industry. Firms must take proactive measures to ensure compliance with regulations and promote ethical behaviour to avoid severe penalties and protect market integrity.

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