Articles - JLT Specialty Ltd resolves matter with FCA


 JLT Specialty Limited, has accepted the decision by the Financial Conduct Authority (“FCA”) to issue it with a final notice and fine of £1.8m having found that systems and procedures put in place to mitigate the potential bribery and corruption risks associated with JLTSL’s third party relationships were inadequate during the period between February 2009 and May 2012.

 The FCA has confirmed that it has found no evidence to suggest that JLTSL permitted any illicit payment or inducement to any such third party during the period, nor that JLTSL intended to permit any such payment to be made.

 Further the FCA recognised that JLTSL made significant efforts in the relevant period to improve its systems and controls framework.

 JLTSL has since put in place updated policies that have been confirmed by the FCA as being appropriate.
  

Back to Index


Similar News to this Story

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
Hopes and fears for pensions in 2024
Aon has set out its “hopes and fears” for pensions in 2024. After a year in which UK pension schemes digested the events of 2022 and adjusted themse
The lifetime pension model
In the Chancellor’s Autumn Statement Jeremy Hunt launched a call for evidence for a ‘pot for life’, also known as the lifetime pension model. As part

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

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