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Release Date: 16th June 2022

To access the original FCA document, click here.


The Financial Conduct Authority (FCA) has fined JLT Specialty Limited (JLTSL) £7,881,700 for breaches of Principle 3 of the Authority’s Principles for Businesses between 21 November 2013 and 6 June 2017. These breaches pertained to JLTSL’s failure to maintain adequate risk management systems to counter the risks of bribery and corruption.

Reasons for the Fine:

Key Takeaways:


JLTSL’s failure to maintain effective risk management systems and its inadequate oversight of third-party introducers resulted in serious breaches of regulatory principles. This case underscores the importance of comprehensive due diligence, effective monitoring, and robust risk management systems to prevent financial crime. The FCA’s penalty highlights the need for firms to ensure stringent compliance with regulatory standards to safeguard market integrity and protect against corruption.

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