FCA fined Besso Limited
The Financial Conduct Authority (FCA), the British financial regulatory authority, has fined Besso Limited £315,000 for a failure to take reasonable care to establish and maintain effective systems and controls for countering the risks of bribery and corruption.
According to FCA, Besso Limited, a general insurance broker, operated a weak control environment surrounding the sharing of commissions with third parties which gave rise to an unacceptable risk that they could be used for corrupt purposes.
For full press release visit FCA.
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