The Financial Conduct Authority (FCA) has decided to fine Carlos Ricardo Fuenmayor, Chief Executive of BancTrust, £99,600 for failing to disclose three separate matters that bear directly on his fitness and propriety. The provisional findings are notable for what they reveal about the gaps a determined non-disclosure can open in a regulator's view of an approved person. Until December 2021, Mr Fuenmayor did not tell the FCA — including in application forms submitted on behalf

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, has imposed a £165,000 monetary penalty on Deutsche Bank AG London Branch (DBLB) for breaches of the Russia (Sanctions) (EU Exit) Regulations 2019. The penalty, announced on 30 April 2026, relates to two payments totalling £635,618.75 processed in June and July 2022 to Okko LLC (Okko), a Russian media streaming company wholly owned by the designated person JSC New Opportunities. DBLB processed the p

The Financial Conduct Authority (FCA) has fined Dinosaur Merchant Bank Limited (DMBL) £338,000 for significant failures in its market abuse surveillance systems within its contracts for difference (CFD) business. The enforcement action underscores regulatory expectations that firms operating in high risk trading environments must maintain robust and effective monitoring frameworks. The failings arose following the introduction of a new order management system in June 2024, wh

The sentencing of Paxful Holdings Inc marks one of the clearest judicial warnings yet to virtual asset trading platforms that anti-money laundering failures will be treated as criminal conduct, not regulatory oversight. On 11 February 2026, the US Department of Justice confirmed that the peer-to-peer crypto platform was ordered to pay a $4 million criminal penalty after pleading guilty to conspiring to violate the Travel Act, the Bank Secrecy Act (BSA), and operating an unlic

The Financial Conduct Authority (FCA) has fined two individuals a combined £108,731 for insider dealing linked to shares in Bidstack Group Plc, reinforcing its commitment to tackling market abuse and protecting market integrity. Dipesh Kerai has been fined £52,731 and Bhavesh Hirani £56,000 following enforcement action relating to unlawful trading in December 2021. At the time, Mr Hirani was interim Chief Financial Officer (CFO) of Bidstack, an advertising technology company

The Financial Conduct Authority has imposed a £44 million fine on Nationwide Building Society for significant failures in its financial crime systems and controls, reinforcing the regulator’s uncompromising stance on anti-money laundering governance across the UK banking sector. The penalty relates to weaknesses that persisted between October 2016 and July 2021, during which Nationwide was unable to effectively identify, assess, monitor, or manage money laundering risks withi

The Financial Conduct Authority (FCA) has banned and fined financial advisor Neil Sedgwick Dwane £100,281 for insider dealing, following misconduct that breached market integrity and professional trust. In 2022, Mr Dwane, acting as an advisor for ITM Power Plc (ITM), had access to confidential market-sensitive information concerning an upcoming company announcement scheduled for 27 October. The announcement triggered a 37% drop in ITM’s share price. The day before the announc

For more than a decade, challenger banks have styled themselves as the antidote to a stagnant, fee-ridden and tech-deficient banking...

The Financial Conduct Authority (FCA) has secured the sentencing of Matthew and Nikolas West for insider dealing, with the brothers...

The Financial Conduct Authority (FCA) has fined Barclays Bank UK PLC and Barclays Bank PLC a combined £42 million following two separate...

The Financial Conduct Authority (FCA) has imposed a fine of £21,091,300 on Monzo Bank Ltd for serious weaknesses in its financial crime...

On 11 April 2025, the UK’s Office of Financial Sanctions Implementation (OFSI) imposed a £5,000 monetary penalty on Svarog Shipping &...