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UK's Regulator Fines Mako Financial Markets £1.66M in Cum-Ex Trading Crackdown

Summary by Finance Magnates | Financial and Business News

The London-based Mako Financial Markets is the latest firm to bear the brunt of the UK regulator’s crackdown on the infamous cum-ex trading scandal.UK regulator Financial Conduct Authority (FCA) imposed a £1.66 million fine on Mako Financial Markets Partnership LLP for failing to implement effective controls against financial crime. “Between December 2013 and November 2015, Mako executed purported over-the-counter equity trades on behalf of clie…

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insurance-edge.net

FCA Takes Action Against Mako LLP

The latest from the FCA for you; The Financial Conduct Authority (FCA) has fined Mako Financial Markets Partnership LLP (Mako) £1,662,700 for failing to ensure it had effective systems and controls to guard against financial [...] The post FCA Takes Action Against Mako LLP appeared first on .

4 days ago

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Finance Magnates | Financial and business news

UK's Regulator Fines Mako Financial Markets £1.66M in Cum-Ex Trading Crackdown

4 days ago

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international-adviser.com

FCA fines trader Mako £1.6m for systems and controls failures

The Financial Conduct Authority (FCA) has fined Mako Financial Markets Partnership LLP (Mako) £1,662,700 for failing to ensure it had effective systems and controls to guard against financial crime. In a statement on 18 February, the UK regulator said Mako also failed to adequately apply the policies and procedures it did have in place. This eighth enforcement case brought by the FCA, concludes its investigations into cum-ex trading. Working clo…

4 days ago

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amlintelligence.com

NEWS: Mako fined £1.66M by UK’s FCA for financial crime failings - AML Intelligence

By PAUL O’DONOGHUE, Senior Correspondent THE UK’s Financial Conduct Authority (FCA) has fined Mako Financial Markets Partnership £1.66 million for failing to implement effective financial crime controls related to cum-ex trading. This is the FCA’s eighth enforcement case on cum-ex trading, bringing total fines in the area to more than £30 million. Mako’s Role Between December 2013 and November 2015, Mako executed over-the-counter equity trades f…

5 days ago

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