London: The UK subsidiary of Bank of Beirut has been fined 2.1 million pounds ($3.2 million) for misleading the regulator and prevented from signing up new customers from some jurisdictions for 126 days, the Financial Conduct Authority (FCA) said.
The FCA said on Thursday it had also fined two of the bank’s employees after The Bank of Beirut (UK) Ltd repeatedly provided misleading information after being ordered to address concerns about its financial crime systems and controls. Anthony Wills, the former compliance officer and Michael Allin, the internal auditor, have been fined 19,600 pounds and 9,900 pounds respectively after they failed to deal with the regulator in “an open and cooperative way”, the FCA said.
