Arian’s failure put it at risk of being used to support fraudulent trading and money laundering on behalf of clients of the Solo Group, says the Financial Conduct Authority
The UK regulator ruled that the transactions were carried out in a way “that was highly suggestive of financial crime” and that the broker had failed to manage risk that it was being used to facilitate fraudulent trading and moneylaundering
This is the fourth penalty applied by the UK regulator and the largest that it has applied to date relating to div arb violations. MCM qualified for a 30% reduction under the Settlement Discount Scheme since it did not dispute the FCA's charges
The UK financial regulator has fined The TJM Partnership slightly more than £2 million for control failures linked to cum-ex trading and money laundering
Denmark’s Minister of Justice Nick Hækkerup will travel to the United Arab Emirates this week to sign an extradition treaty, potentially assisting efforts of the Danish tax authorities to pursue recovery from Dubai-based cum-ex defendants
Sunrise Brokers has been fined £600,000 by the Financial Conduct Authority for deficient anti-money laundering systems and controls, the second cum-ex trading case to face the FCA this year
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