Articles - Eversheds comment: Willis in record £6.9m fine from FSA

 The UK arm of Willis, the number three global insurance broker, has received the highest fine yet by the FSA, at £6.9m, for anti-bribery and corruption failings related to commissions paid overseas, just weeks after the introduction of the UK Bribery Act. Neill Blundell, partner at international law firm Eversheds, comments:

 “This is another example of the FSA seeking regulatory action in the bribery space. The new Bribery Act is clearly not going to be the first port of call when dealing with regulated businesses falling short, partly because the FSA lacks the power to criminally prosecute under it. Instead the FSA will use its regulatory powers to good effect, going after the failings in systems to prevent bribery and corruption. There is no need for the FSA to prove an actual offence.”

Back to Index

Similar News to this Story

Boomerangs barbecues and pensions
When compiling a list of Australian contributions to UK society, it’s unlikely that auto enrolment would rank above the usual suspects of boomerangs
COP28 may be do or die for one point five degree aspirations
With the UN’s annual climate conference kicking off today in Dubai, Ritchie Thomson, senior responsible investment associate at Aegon Asset Management
Oblivian Coalmine on pension funds fossil fuel industry ties
This new film from Make My Money Matter, starring the Academy Award winner Olivia Colman, highlights that £88 billion of UK pension savers money is in

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.