The Final Notice against Guaranty Trust Bank (UK) Limited (“GT Bank”) follows on the heels of similar enforcement actions against financial institutions for AML systems and controls breaches, continuing to make good on the...more
On 17 June 2020, the London branch of Commerzbank AG (“Commerzbank London”) was fined £37,405,400 by the Financial Conduct Authority (“FCA”). The FCA’s fine against Commerzbank emphasises a continued focus on Anti-Money...more
7/15/2020
/ Anti-Money Laundering ,
Commerzbank ,
Compliance ,
Financial Conduct Authority (FCA) ,
Fines ,
Intermediaries ,
Money Laundering ,
Policies and Procedures ,
Politically Exposed Person (PEPs) ,
Risk Assessment ,
Tone At The Top ,
Transaction Monitoring ,
UK
On 6 August 2019, the UK Serious Fraud Office (SFO), the prosecuting authority responsible for tackling serious or complex fraud and bribery in the UK, published updated guidance on corporate cooperation (the Guidance)....more
Firms will need to ensure their systems and controls to prevent financial crime and money laundering are working effectively: this is just part of the message contained in the FCA’s Business Plan for 2019/20. The Business...more
5/13/2019
/ Anti-Money Laundering ,
Banking Sector ,
Banks ,
Business Plans ,
Civil Monetary Penalty ,
Compliance ,
Customer Information ,
Cyber Attacks ,
Disclosure Requirements ,
Due Diligence ,
Enforcement Actions ,
EU Market Abuse Regulation (EU MAR) ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Markets ,
Fines ,
Insider Trading ,
Investment Management ,
Market Abuse ,
MiFID II ,
Misleading Statements ,
Money Laundering ,
Remuneration ,
Risk Assessment ,
Risk Mitigation ,
Secondary Markets ,
Self-Dealing ,
Senior Managers ,
SMCR ,
UK ,
Wholesale