2019 biggest year so far for FCA fines at £319m after just six months
FCA fined Liberty Mutual £5.2m for failures in its oversight of outsources claims activities.
FCA August 2018
180 EU Insurers either FAILED or were 'near misses' claims EIOPA research database.
EU Insurance Undertakings, 1999 - 2016
US Insurance Company fined $270k for sanctions breach in UK branch
Sanctions Penalties (UK)
Up to 2 years for breach of country specific sanctions and up to seven years for breach of terrorist financing legislation
Standard Chartered Bank £102.2m for poor AML controls.
Senior Managers personally accountable under SM&CR
Fully Effective December 2019
€56m fines and 200,000 GDPR breaches reported in first year of new legislation
European Data Protection Board 2019
Politically exposed persons (PEPs) are individuals whose prominant position in public life may make them vulnerable to corruption
OFSI imposes first monetary penalty for sanctions breach.