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Regulatory Violations Financial Institutions United Kingdom

A&O Shearman

PRA fines former notified non-executive director of Wyelands Bank

A&O Shearman on

The UK Prudential Regulation Authority (PRA) has fined a former non-executive director of Wyelands Bank GBP72,000 for failing to act with due skill, care and diligence in connection with regulatory failings previously...more

K2 Integrity

Regulatory Tolerance Wearing Thin When it Comes to AML Deficiencies

K2 Integrity on

The Financial Conduct Authority’s (FCA’s) inaugural use of its criminal money laundering powers under Regulation 45 of the UK Money Laundering Regulations 2007 (MLR) against NatWest is viewed by many as a warning shot to...more

Ballard Spahr LLP

Canara Bank of India Fined $1.2 Million by UK Regulators for Systemic AML Failures

Ballard Spahr LLP on

Late last week, the Financial Conduct Authority (“FCA”), the United Kingdom’s financial services regulator, imposed a $1.2 million (896,100 pound) fine on the UK division of India’s Canara Bank, an Indian state-owned bank,...more

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