Dresdner RCM Global Investors has been fined £90,000 (€146,600) by the UK Investment Management Regulatory Organisation (IMRO) and has to pay additional cost of £68,992 to the regulator.

Dresdner RCM was fined for failures in performing client money account reconciliations, failures in reconciling and funding its UK settlement bank accounts and failures in record keeping. These largely took place in 1998 although some were in early 1999, and the UK-based fund manager insists that it has since improved systems and controls, and made several key hires to ensure robustness.