Search

Editors

Harry Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman 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

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


FCPA Blog Daily News

Entries in Financial Conduct Authority (43)

Wednesday
Apr222015

UK fines Merrill Lynch £13 million for 35 million compliance lapses

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.

Click to read more ...

Wednesday
Apr152015

UK fines BNY Mellon £126 million for custody compliance failures

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.

Click to read more ...

Monday
Mar232015

UK to compliance officers: ‘Show a backbone’

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. When the FCA caught Wilis in the lies, he said it wasn't his fault.

Click to read more ...

Thursday
Mar122015

UK compliance officer and internal auditor lied to regulator

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.

Click to read more ...

Monday
Jan262015

UK plans more enforcement for compliance failures

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.

Click to read more ...

Thursday
Dec112014

Report: UK financial regulator ‘fell short of its own standards’

The issue of who regulates the regulators was thrown into sharp focus following the publication of a rather costly (£3.15 million / $4.95 million) independent report into the UK Financial Conduct Authority's media and financial market management. 

Click to read more ...

Thursday
Nov202014

FCA small bank and insurance intermediary reviews: Not good but getting better

Last week, the UK’s Fianncial Conduct Authority published thematic financial crime risk reviews into 21 small banks and ten commercial insurance intermediaries. It also commenced a consultation exercise on its proposed guidance on financial crime systems and controls.

Click to read more ...

Wednesday
Nov122014

Five banks fined $3.3 billion for forex manipulation

Regulators in the United States, Britain, and Switzerland penalized five banks $3.3 billion for rigging foreign-exchange benchmarks.

Click to read more ...

Monday
Oct062014

Get ready for UK extractive industries disclosure rules

Image courtesy of the Houses of Parliament Flicker streamThe UK government recently announced the publication of draft legislation entitled “Reports on Payments to Governments Regulations 2014." The legislation would require UK-registered mining, quarrying, and logging companies to report on payments they make to governments all over the world, when such payments exceed £86,000 ($137,000) in a financial year.

Click to read more ...

Tuesday
Aug192014

SFO close to decision on charges for ex-Barclays bankers

The UK Serious Fraud Office could decide "as soon as next month" whether to charge former Barclays executives over undisclosed payments the bank made to Qatar's sovereign wealth fund in 2008, when the Bank was trying to raise money during the credit crunch.

Click to read more ...

Tuesday
Aug052014

PEPs and EDD: Charlotte Hill on the FCA's annual AML report

The UK's Financial Conduct Authority issued its second anti-money laundering annual report in July, emphasizing obligation to prevent financial crime and enhance AML systems and controls in specific ways.

Click to read more ...

Thursday
Jul312014

UK says 'no thanks' to U.S.-style whistleblower rewards

Regulators in the United Kingdom said Wednesday they won't adopt incentives for whistleblowers like those in the United States but will help businesses improve their internal reporting and whistleblower protections.

Click to read more ...