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.