Britain’s Financial Conduct Authority fines Commerzbank AG, London Branch £37,805,400 (~$46,684,640).
Overview On June 17, 2020, despite having found no incidences of a “financial crime” Britain’s Financial Conduct Authority (FCA) fined Commerzbank AG, London Branch £37,805,400 (~$46,684,640) for inadequate controls and procedures related to the bank’s financial crime control framework. The fine is to be paid no later than July 1, 2020. From the FCA’s 50-page […]