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March 16, 2022: FCA consultation on funds with exposure to sanctioned Russian & Belarusian assets

FCA to consult on use of ‘side pockets’ for retail funds with exposure to sanctioned and suspended Russian assets Statements First published: 16/03/2022 Last updated: 16/03/2022 Share page The FCA has begun discussions with stakeholders about options to allow UK authorised retail funds to make exceptional use of ‘side pockets’ given the significant practical […]

I missed this one: FCA fines HSBC Bank 63.9MM GBP for transaction monitoring failures

FCA fines HSBC Bank plc £63.9 million for deficient transaction monitoring controls Press Releases First published: 17/12/2021 Last updated: 17/12/2021Share page The FCA has fined HSBC Bank plc (HSBC) £63,946,800 for failings in its anti-money laundering processes. HSBC used automated processes to monitor hundreds of millions of transactions a month to identify possible financial […]

FCA Enforcement Action: NatWest fined 264.8MM GBP for AML failures

NatWest fined £264.8 million for anti-money laundering failures  Press Releases First published: 13/12/2021 Last updated: 13/12/2021Share page National Westminster Bank Plc (NatWest) was today fined £264,772,619.95 following convictions for three offences of failing to comply with money laundering regulations. Mrs Justice Cockerill, the sentencing judge at Southwark Crown Court, today said: ‘….it must be […]

NatWest guilty of AML failures

NatWest Plc pleads guilty in criminal proceedings  Press Releases First published: 07/10/2021 Last updated: 07/10/2021 Today, National Westminster Bank Plc (NatWest) entered guilty pleas at Westminster Magistrates’ Court to criminal charges brought by the Financial Conduct Authority (FCA) under the Money Laundering Regulations 2007 (MLR 2007).  NatWest accepts that it […]

FCA warns of risks linked to Afghanistan

Firms reminded about potential financial crime risks linked to Afghanistan Statements|First published: 31/08/2021 | Last updated: 31/08/2021 Developments in Afghanistan have highlighted the continuing need for robust systems and controls that respond to changing risks. Firms should be aware of the possible impact these events may have on patterns of […]

FCA prosecutes National Westminster Bank

FCA starts criminal proceedings against NatWest Plc Press Releases First published: 16/03/2021 Last updated: 16/03/2021 The Financial Conduct Authority (FCA) has today announced that it has commenced criminal proceedings against National Westminster Bank Plc (NatWest) in respect of offences under the Money Laundering Regulations 2007 (MLR 2007). The FCA alleges that NatWest failed to […]

FCA Notice: unauthorized foreign exchange investment xchloesworld

FCA warns consumers about unauthorised forex investment xchloesworld News stories First published: 13/01/2021 Last updated: 13/01/2021 On Tuesday 12 January we updated our consumer warning against an unauthorised online trader using Instagram, known as chloefxtrades / chloehenx, to include a further account xchloesworld. This account has been promoted widely on social media and we want consumers to be aware that it […]

An impostor FCA Financial Services Register site…

Fake Financial Services Register website Statements Published: 22/07/2020 Last updated: 22/07/2020 We are aware that there has been an attempt to reproduce our Financial Services Register on a non-FCA website. We are currently working to get the page taken down and have alerted members of the public through our website and social media channels. […]