UK: first fine for breach of Listing Principle 2 imposed by FSA

The Financial Services Authority has, for the first time, fined a company for its failure to establish and maintain the systems and controls necessary to comply with the Listing Rules, as set out in Listing Principle 2. The fine was imposed on Exillon Energy plc, which had failed to identify around £930,000 of payments as related party transactions. For further information see the FSA's press release and the final notice available here (pdf).