Swansea financial adviser Simon Hughes has been banned by the FCA and made to pay £158,600 redress for “negligent” pension advice which has led to £8m compensation being paid to his BSPS-member clients.

City of London futures broker ADM Investor Services International has been fined £6,470,600 by the FCA for inadequate anti-money laundering systems and controls.

Swiss bank and investment provider Credit Suisse has been fined £87m by the Prudential Regulation Authority for “significant failures in risk management and governance” related to the collapse of Archegos Capital.

The Prudential Regulation Authority has fined former TSB Bank plc chief information officer Carlos Abarca £81,629 for his part in IT failings which hit 5.2m TSB customers.