British watchdog fines Janus Henderson $2.45 million over unfair fees
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LONDON (Reuters) - Britain's financial markets regulator has fined Henderson Investment Funds (HIFL) 1.9 million pounds (£2 million) for overcharging more than 4,700 retail investors over five years, in its first "closet-tracking" penalty.The Financial Conduct Authority (FCA) said on Wednesday that nearly all institutional investors at HIFL, now part of Janus Henderson , were told that the Japan and North American funds would be managed without charge because the level of active management was..