News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-02-13T19:21:00
Barclays Bank is reportedly being investigated by the U.K.’s financial services regulator for failures regarding its anti-money laundering (AML) procedures and controls.
The Financial Conduct Authority (FCA) issued a notice in spring 2022 for an independent review into the bank’s systems to detect and mitigate financial crime following a “concerning” rise in the volume of relatively minor know your customer (KYC) and AML incidents, according to a report from the Financial Times on Friday. The report cited unnamed sources familiar with the matter.
The investigation is known as a “skilled persons” review, as outlined under Section 166 of the Financial Services and Markets Act 2000. The reviews are usually led by a law firm, consultancy, or accountancy firm and used to gather historical information, evidence, and/or documentation to determine whether remedial measures or enforcement action should be taken.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
2024-02-21T18:49:00Z By Jeff Dale
Barclays Bank disclosed an investigation by the U.K. Financial Conduct Authority into the bank’s anti-money laundering controls has closed without a penalty.
2023-04-21T14:34:00Z By Jeff Dale
Barclays announced the appointment of Kirsty Everett as chief compliance officer and a member of its group executive committee, effective July 1.
2023-04-19T14:20:00Z By Kyle Brasseur
Barclays Capital was fined $2.5 million as part of a settlement with the Financial Industry Regulatory Authority addressing allegations the investment bank failed to accurately report over-the-counter options positions in more than 4 million instances.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
Site powered by Webvision Cloud