UK watchdog fines Execution Noble for listing rule breaches

LONDON, Jan 6 (Reuters) - Britain's financial regulator said on Tuesday it has fined Execution Noble & Co 231,000 pounds ($350,843) for breaching listing rules in its role as a sponsor of companies coming to the market.

The Financial Conduct Authority (FCA) said it was the first time it has fined a sponsor in this way, using powers it obtained in 2013.

The FCA said ENCL failed to tell the watchdog that two thirds of its sponsor team had left between June and November 2013, during which the company continued to market itself as a competent sponsor.

"All sponsors should take note of the consequences if they fail to notify us of material information on time," said Georgina Philippou, acting FCA director of enforcement and market oversight.

Execution Noble is part of the investment banking arm of the failed Portuguese lender Banco Espirito Santo SA. Chinese brokerage firm Haitong Securities Ltd is buying the investment arm, subject to regulatory approval.

($1 = 0.6584 pounds) (Reporting by Huw Jones, editing by Matt Scuffham)