| Home | March 2012News | Coutts settles with FSA over breach of principle 3 |
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 Coutts settles with FSA over breach of principle 3- Coutts settles with FSA over breach of principle 3
- March 27, 2012
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Coutts today announced that it has reached a settlement with the Financial Services Authority (FSA) following an investigation into Coutts & Co's anti-money laundering (AML) systems and controls in relation to high risk clients.
The fine relates to historic activity undertaken between December 2007 and November 2010. Coutts has agreed to pay a fine of £8.75 million as part of the settlement with the FSA.
Coutts has cooperated fully and openly with the FSA throughout the investigation. Coutts accepts the findings contained in the FSA's Final Notice regarding certain failures to meet the relevant regulatory standards between December 2007 and November 2010.
Coutts has found no evidence that money laundering took pl...
- View more at: http://www.1888pressrelease.com/coutts-settles-with-fsa-over-breach-of-principle-3-pr-385318.html
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