The U.K. Financial Conduct Authority (FCA) on Wednesday announced a fine of 7.9 million pounds (U.S. $9.7 million) against a unit of insurance broker Jardine Lloyd Thompson Group (JLT) for failing to control financial crime within its South and Central American subsidiaries.
JLT Specialty Limited (JLTSL), a U.K.-based provider of risk management and insurance claims services, received a 30 percent reduction from a penalty of £11.3 million (U.S. $13.9 million) for self-reporting the alleged misconduct in 2017, according to an FCA press release.
