A broker formerly owned by the insurer AXA UK Plc was fined Wednesday for failing to disclose that it wasn’t independent but instead had a business strategy to sell AXA products.… Continue Reading
A husband and wife lied to authorities to conceal assets from a bankruptcy trustee after their financial advisory firm went bust and caused nearly £4 million ($5.25 million) in losses to customers.… Continue Reading
The Financial Conduct Authority refused to approve a compliance officer for an online trader despite almost 20 years of prior experience.
Rupert Nathan worked for Goldenway Global Investments. The firm’s main business is selling foreign exchange and commodity products to retail clients.… Continue Reading
Until the SFO announced its charges against Barclays, not a single UK bank or individual had faced criminal prosecution for their role in the financial crisis of 2008.
The financial crisis and the recession that resulted is the root cause of the austerity measures that are causing such deep damage to the UK’s public bodies, including local councils, the National Health Service, fire departments and schools.… Continue Reading
The UK Serious Fraud Office brought criminal charges Tuesday against Barclays Plc and four individuals for offenses allegedly committed when the bank sought huge loans from sources in Qatar during the 2008 financial crisis.… Continue Reading
Britain’s market regulator charged a former UBS Group AG compliance officer with five counts of insider trading.
The UK Financial Conduct Authority Wednesday sanctioned Sonali Bank (UK) Limited and its former compliance officer after years of serious anti-money laundering system failures.
The FCA fined Sonali UK £3.25 million (nearly $4 million) and banned it from accepting deposits from new customers for 24 weeks.… Continue Reading
The UK Financial Conduct Authority issued a warning Monday about a cloned firm using Morgan Stanley’s name and London address to take money from victims.
The real firm is Morgan Stanley & Co Ltd.… Continue Reading
The job of the UK’s top financial regulator includes enforcing requirements to designate compliance officers with defined professional roles and duties.
A lot of the regulations the Financial Conduct Authority enforces are based on EU-wide rules.… Continue Reading
Two related UK banks said in separate U.S. securities filings that the UK’s top financial regulator has asked for information about any relationship the banks had with the Panama law firm at the center of the Panama Papers leak or with any individuals named in media coverage about the story.… Continue Reading
The UK Financial Conduct Authority Wednesday banned a former trader at Deutsche Bank AG from the UK financial services industry for “lacking honesty and integrity” following his guilty plea for fraud in the United States.… Continue Reading