The Financial Conduct Authority said Tuesday it has found "weaknesses" in financial crime controls at some U.K. wealth managers, including gaps in checks on clients' wealth, transactions, political exposure and sanctions.
The Financial Conduct Authority said Tuesday it has found "weaknesses" in financial crime controls at some U.K. wealth managers, including gaps in checks on clients' wealth, transactions, political exposure and sanctions.
The government said Tuesday it has hit the founder of a property group with a five-year ban from being a company director after investors lost £4.8 million ($6.5 million) through a connected business that distributed "false and misleading" marketing material.
The U.K.'s financial regulator said Tuesday it has banned a debt management company's executive from working in financial services, saying he lied under oath in an attempt to conceal being a company director and later failed to disclose the resulting 10-year disqualification.
An investor in Cuban real estate said Tuesday that Guernsey's financial regulator will appoint a court administrator for the company after U.S. sanctions triggered the loss of key banking, service provider and business relationships.
A tribunal has ordered the Bank of England to hand over documents that could shed light on whether a Mitie Ltd. worker was unfairly dismissed after he was excluded from a transfer to another security provider.
Simmons & Simmons LLP said Tuesday that it has expanded its fund finance bench with a lawyer from Reed Smith LLP who joins as a partner, marking Simmons & Simmons' second hire from the U.S. firm's funds team in two months.
The Crime and Policing Act 2026 recently entered into force, highlighting a growing emphasis on governance and senior management oversight, the influence of compliance on commercial decision-making, and an overlap between legal and regulatory risk across jurisdictions, say lawyers at McDermott.
