The Financial Conduct Authority (FCA) has fined Aberdeen Asset Managers Limited and Aberdeen Fund Management Limited (Aberdeen) £7,192,500 for failing to identify, and therefore properly protect, client money placed in Money Market Deposits (MMDs) with third party banks between September 2008 and August 2011.  Aberdeen breached FCA’s principles requiring protection of client assets and effective organisation and control of their affairs, leaving its clients at risk of delays in having their money returned if Aberdeen became insolvent. The fine comes as a discount to the original fine of £10,275,000 as a result of Aberdeen’s full cooperation with the FCA’s investigation and agreement to settle at an early stage.