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Den Danske Bank fined by the Securities and Futures Authority

Den Danske Bank, a Danish bank, and one of its former traders in London, have been fined by the Securities and Futures Authority, the City regulator, for events dating back to 1994. Ole Rasmussen, a trader in Den Danske's private banking division, deliberately flouted limits on authorised dealings for private clients, the SFA said.

The regulator suspended his registration in July 1994 and fined him pounds 5,000 and ordered him to pay costs of pounds 4,000. The bank settled with the SFA after admitting it had failed, in certain aspects, to satisfy the SFA's requirements on internal controls. The SFA fined Den Danske pounds 15,000 and the bank agreed to pay a contribution towards the SFA's costs of pounds 5,000.