Along with other three firms, Credit Suisse has been ordered to pay a fine of 1.75 million pounds after it failed to give correct transactions to the Financial Services Authority in time.

Market manufacturer, Getco Europe Limited has been fined 1.4 million Pounds and agency stockbroker, Instinet Europe Limited has been fined 1.05 million Pounds.

The FSA wants firms to have systems and controls in right place so that it can be made sure that correct data is submitted for reportable deals by the end of business, the day after transactions are carried out.

These three firms have not been able to keep up with their responsibilities and failed to submit accurate data in time.

Instinet also came under attack for not having sufficient systems and controls to meet the deal reporting requirements and for failing to obtain satisfactory steps to examin its processes and the correctness of its deal-report information.

All three companies have now taken measures to develop their processes in the right way and correct the errors in a few cases, while resubmitting reports to the FSA. In addition, they all worked together with the FSA inquiry and so have been able to receive a 30% reduction from their fines, which probably would have added up to six million Pounds.

Director of Markets at the FSA Alexander Justham stated that companies ought to meet their commitment in order to offer correct and timely information.

With no quality information, it is not possible for FCA to correctly notice and investigate market maltreatment, recognize market wide risks or have a broad understanding of the actions of every company. This information is very important in FSA's efforts to battle monetary felony and will keep on pursuing firms that fall short of providing quality statistics.

So this effort by FCA is expected to keep companies well aware of what they need to do and when they need to do.