Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
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
The UK Financial Conduct Authority fined Barclays Bank £72 million ($108 million) Thursday for rushing to serve rich politically exposed persons and keeping their deal secret.
Barclays arranged a transaction worth $3 billion for ultra-high net worth clients in 2011 and 2012.… Continue Reading
The Financial Conduct Authority released new rules Tuesday for the UK banking and insurance sector to protect whistleblowers and encourage them to come forward.
The FCA said the new rules will take full effect in September 2016.… Continue Reading
The UK Financial Conduct Authority on Wednesday fined Merrill Lynch International £13,285,900 ($19.8 million) for incorrectly reporting 35,034,810 transactions and failing to report another 121,387 transactions between November 2007 and November 2014.… Continue Reading
The Financial Conduct Authority Tuesday fined two Bank of New York Mellon units a total of £126 million ($185 million) for failing to comply with the FCA custody rules for the safe-keeping of client money.… Continue Reading
A former compliance officer at the Bank of Beirut (UK) lied to the Financial Conduct Authority. Anthony Willis said the bank was complying with orders to enhance its compliance program when it wasn’t.… Continue Reading
A compliance officer and an internal auditor at the Bank of Beirut (UK) Ltd misled the UK Financial Conduct Authority about steps taken by the bank to protect against financial crime.… Continue Reading
As reported in the Financial Times, Jamie Symington, the head of investigations at the Financial Conduct Authority, announced last week the regulator’s plans to target financial crime, including failures in bribery and sanctions controls within the entities it regulates.… Continue Reading
