The UK split capital trusts fiasco has cost Hargreaves Lansdown Asset Management, the UK financial adviser and fund manager, £2m (€3m), after being hit by a £300,000 fine on top of its £1.7m compensation bill to customers.

The Financial Services Authority fine is the first time the regulator has penalised a firm purely in relation to the split capital trust scandal. Deloitte & Touche Wealth Management was fined £750,000 in January for what the FSA described as a "range of failings", some of which involved its activities in the split capital trust sector.