Besso hit with £315,000 FCA fine
London market broker punished for bribery and corruption controls.
London market broker Besso has been slapped with a £315,000 fine by the Financial Conduct Authority (FCA).
The regulator said the firm had failed to take reasonable care to establish and maintain effective systems and controls for countering the risks of bribery and corruption.
According to the FCA, Besso operated a "weak control environment" surrounding the sharing of commissions with third parties which resulted in an "unacceptable risk" that they could be used for "corrupt purposes".
Tracey
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