Britain’s financial regulator fined the London Metal Exchange on Thursday for allowing nickel prices to surge out of control three years ago in the first ever enforcement action against a UK exchange. The Financial Conduct Authority imposed a penalty of …
Crispin Odey was fined £1.8 million ($2.3 million) and banned by the UK’s financial regulator for showing a “reckless disregard” for governance at his former investment fund. The Financial Conduct Authority said in a statement Odey’s conduct demonstrated that he …
Liberty Mutual Insurance this week should complete $5.2 million in refunds, premium credits and interest payments to more than 46,000 auto insurance policyholders in Florida, the result of a market conduct examination done months after a use-and-file rate was approved, …
The Bank of England said on Thursday it had fined insurer MS Amlin Underwriting Ltd (MSAUL) 9.695 million pounds ($10.84 million) for failings in its governance, controls and risk management which spanned five years. The central bank’s regulatory arm, the …
Financial firms may be fined and stripped of their regulatory authorization unless they put their customers’ needs first under far-reaching reforms from the UK City regulator. Banks, insurers and other companies will have to ensure their services are actually good …
The Financial Conduct Authority (FCA) has levied a fine of £7,881,700 against insurance broker JLT Specialty Ltd. for financial crime control failings, which in one instance CFA said allowed bribery of more than $3million to take place. JLT Specialty, which …
Australia’s corporate regulator said on Friday it was suing MLC Life Insurance for causing financial harm of A$17.5 million ($12.73 million) to over a quarter million customers by not paying benefits and charging premiums without notice. MLC is a part …
The total value of fines handed out by the U.K.’s Financial Conduct Authority fell by almost 75 percent in 2018, after a bumper year in which it had secured penalties against the likes of Deutsche Bank AG, Merrill Lynch International …
Illinois Department of Insurance (DOI) Director Andrew Boron has announced that more than $10.3 million in market conduct fines was collected from insurance companies by the department in calendar year 2012. This amount represents a significant increase in fines collected …
