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UK's FCA proposes fine on Asia Resource Minerals

Reuters - UK Focus

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LONDON, March 25 (Reuters) - Britain's Financial Conduct Authority has proposed imposing a "substantial" financial penalty on Asia Resource Minerals Plc (LSE: ARMS.L - news) as a result of an investigation which highlighted a listing rule breach, the company said on Wednesday.

ARMS said it is co-operating fully with this investigation and is now considering how to respond.

The company set aside a relevant provision in its accounts for the 2014 half year of $7 million, it said. (Reporting by Silvia Antonioli; editing by Jason Neely)