PRA hands MS Amlin £9.7m fine
The Prudential Regulation Authority has issued MS Amlin Underwriting a £9.7m fine for failing to comply with regulatory obligations.
MSAUL failed to comply with its obligations when it came to governance and oversight in serval areas including underwriting controls, management information, data quality, and risk management strategies from 1 September 2014 to 31 December 2019.
“During the relevant period the PRA noted its concerns regarding the risks this, and prevailing market conditions, presented,” PRA stated. “There were various issues in relation to a number of MSAUL’s systems, controls and processes and MSAUL failed to
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