- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2025-02-19T16:40:00
Mako Financial Markets Partnership will pay $2.1 million (1.7 million pounds) in penalties to the U.K. Financial Conduct Authority (FCA) to settle allegations that its financial crime prevention program was ineffective.
The FCA said in a press release Tuesday that from 2013-15, Mako facilitated over-the-counter trades on behalf of its client Solo Group that were circular in nature and therefore “highly suggestive of financial crime.”
The trades were part of an illegal tax scheme of cum-ex trades in Denmark and Belgium for which several individuals have been convicted, the FCA said.
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2025-01-29T18:43:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a landmark fine against trading platform Infinox Capital for failing to report “high-risk” transactions, the first-ever enforcement under a 2018 law.
2025-01-02T13:00:00Z By Neil Hodge
New rules that push IT firms providing “critical” services to the U.K.’s financial sector to share more data about cyberattacks and resiliency measures have been welcomed by industry experts. However, concerns remain over how suppliers will be classified and how key data might be gathered and shared.
2024-12-19T16:18:00Z By Neil Hodge
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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