Nortel Group
Nortel Networks
Nortel Networks
1000000000
2017
20170501
employment-related offences
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A settlement between the companies of the Nortel Group and the Nortel Networks UK Pension Plan, along with TPR and the PPF allowed the distribution of a share of the money available in the US and Canada to Nortel's creditors to be paid to the pension plan, after court cases in the UK, US and Canada to determine the rights of enforcement action. The aggregate payments were estimated to be in excess of £1 billion.
agency action
Settlement with TPA
UK-TPR
The Pensions Regulator
Canada
out of business
telecommunications
telecommunications
https://www.thepensionsregulator.gov.uk/-/media/thepensionsregulator/files/import/pdf/regulatory-intervention-section-89-nortel.ashx
UK21-54648
Airbus SE
Airbus
Airbus
991000000
2020
20200131
competition-related offences
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The indictment, which has been suspended for the term of the DPA, covers five counts of failure to prevent bribery. The conduct involves Airbus' Commercial and Defence & Space divisions. The conduct covered by the UK DPA took place across five jurisdictions: Sri Lanka, Malaysia, Indonesia, Taiwan and Ghana between 2011 and 2015.
agency action
deferred prosecution agreement
UK-SFO
Serious Fraud Office
France
publicly traded
aerospace and military contracting
aerospace & military contracting
NL0000235190
https://www.sfo.gov.uk/2020/01/31/sfo-enters-into-e991m-deferred-prosecution-agreement-with-airbus-as-part-of-a-e3-6bn-global-resolution/
UK21-52459
Entain plc
Entain PLC
Entain PLC
615000000
2023
20231124
competition-related offences
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Entain agreed to pay £585 million in penalties and disgorgement of profits, make a charitable donation of £20 million, and pay costs of £10 million, in a Deferred Prosecution Agreement settling a court case resulting from an HMRC investigation which alleged failures by the company to have adequate procedures to prevent bribery at its former Turkish gambling operations.
deferred prosecution agreement
UK-HMRC
HM Revenue & Customs
Isle of Man
publicly traded
entertainment
sports betting
IM00B5VQMV65
https://www.entaingroup.com/media/ukhjhbq5/entain-update-on-dpa-24-nov-23.pdf
UK21-101446
Rolls-Royce PLC
Rolls-Royce
Rolls-Royce
510250000
2017
20170117
competition-related offences
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The agreement with the company followed the SFO's four-year investigation into bribery and corruption. The indictment covered 12 counts of conspiracy to corrupt, false accounting and failure to prevent bribery. The conduct spanned three decades and involved Rolls-Royce's Civil Aerospace and Defence Aerospace businesses and its former Energy business and related to the sale of aero engines, energy systems and related services. The conduct covered by the UK DPA took place across seven jurisdictions: Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia. The Judge ruled in a public hearing at the Royal Courts of Justice that the DPA's terms were fair, reasonable and proportionate and that the DPA was in the interests of justice. He also agreed that the total sum in the UK settlement (£497.25m plus interest and the SFO's costs of £13m) reflected the gravity of the conduct, the full cooperation of Rolls-Royce PLC in the investigation, and the programme of corporate reform and compliance put in place by new leadership at the top of the company. The resolution is the highest ever enforcement action against company in the UK for criminal conduct.
agency action
deferred prosecution agreement
UK-SFO
Serious Fraud Office
United Kingdom
publicly traded
aerospace and military contracting
aerospace & military contracting
GB00B63H8491
https://www.sfo.gov.uk/2017/01/17/sfo-completes-497-25m-deferred-prosecution-agreement-rolls-royce-plc/
UK21-52467
Taveta Investments Limited and Taveta Investments (No.2) Limited
Taveta Investments
Taveta Investments
343000000
2017
20170228
employment-related offences
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Taveta Group agreed to pay £363 million to the BHS pension schemes in settlement of a Warning Notice by TPR alleging the group was liable for payments to the BHS pension fund since the long control and involvement with the BHS business and pension schemes had only ended with a sale that was materially detrimental to the schemes.
agency action
Settlement with TPA
UK-TPR
The Pensions Regulator
United Kingdom
privately held
diversified
diversified
https://www.thepensionsregulator.gov.uk/-/media/thepensionsregulator/files/import/pdf/regulatory-intervention-section-89-bhs.ashx
UK21-54651
Credit Suisse
UBS
Credit Suisse
UBS took over Credit Suisse in 2023
292209276
2021
20211019
financial offences
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The Financial Conduct Authority fined Credit Suisse over £147 million for serious financial crime due diligence failings related to loans worth over US$1.3 billion, which the bank arranged for the Republic of Mozambique. FCA said these loans, and a bond exchange, were tainted by corruption. Credit Suisse also agreed with the FCA to forgive US$200 million (added to the penalty amount here as £145,019,000) of debt owed by the Republic of Mozambique as a result of these tainted loans.
agency action
UK-FCA
Financial Conduct Authority
Switzerland
publicly traded
financial services
banking & securities
CH0244767585
https://www.fca.org.uk/news/press-releases/credit-suisse-fined-ps147190276-us200664504-and-undertakes-fca-forgive-us200-million-mozambican-debt
UK21-63106
Barclays Bank plc
Barclays
Barclays
284432000
2015
20150520
competition-related offences
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Barclays paid a £284 million fine in settlement of a finding by the FCA that the company failed to have adequate systems and controls over its foreign exchange business, allowing traders to engage in market abuse that put the firm's interests ahead of its clients, with inappropriately shared information and manipulation of spot FX currency rates.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0031348658
https://www.fca.org.uk/news/press-releases/fca-fines-barclays-%C2%A3284432000-forex-failings
UK21-16748
Glencore Energy (UK) Ltd
Glencore
Glencore
280965092
2022
20221103
competition-related offences
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Glencore Energy (UK) Ltd was convicted on charges of bribery brought against it by the Serious Fraud Office (SFO). At Southwark Crown Court, the company admitted to multiple counts of paying bribes to secure access to oil and generate illicit profit and was sentenced to pay £280 million.
agency action
UK-SFO
Serious Fraud Office
Switzerland
publicly traded
financial services
commodity trading; mining
JE00B4T3BW64
https://www.sfo.gov.uk/2022/11/03/glencore-energy-uk-ltd-will-pay-280965092-95-million-over-400-million-usd-after-an-sfo-investigation-revealed-it-paid-us-29-million-in-bribes-to-gain-preferential-access-to-oil-in-africa/
UK21-83167
National Westminster Bank plc
NatWest Group PLC
NatWest Group PLC
264772619
2021
20211213
financial offences
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NatWest pleaded guilty to three offences of failing to comply with money laundering regulations by accepting £365 million in cheques and cash from a commerical customer with suspicious behaviour that was not acted upon and was not spotted by an incorrect automated transaction monitoring system.
agency action
guilty plea
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking & securities
GB00B7T77214
https://www.fca.org.uk/news/press-releases/natwest-fined-264.8million-anti-money-laundering-failures
UK21-65925
Coats Group plc
Coats Group PLC
Coats Group PLC
255500000
2017
20170201
employment-related offences
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Coats Group agreed to pay £255.5 million to two pension schemes, and £74 million to a third pension scheme, in settlement of a Warning Notice by TPR alleging the company was liable for substantial deficits in the schemes, which would be left insufficiently resourced and with high levels of risk following Coats selling off its investment shareholdings and allocating the majority of benefit to shareholders.
agency action
Settlement with TPA
UK-TPR
The Pensions Regulator
United Kingdom
publicly traded
miscellaneous manufacturing
sewing supplies
GB00B4YZN328
https://www.thepensionsregulator.gov.uk/-/media/thepensionsregulator/files/import/pdf/regulatory-intervention-section-89-coats.ashx
UK21-54652
UBS AG
UBS
UBS
233814000
2014
20141211
competition-related offences
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Citibank N.A., HSBC Bank Plc, JPMorgan Chase Bank N.A., The Royal Bank of Scotland Plc and UBS AG were fined a total of £1.1 billion in settlements with the FCA of findings that they failed to have adequate systems and controls over their foreign exchange businesses, allowing traders to engage in market abuse that put the firms' interests ahead of their clients, with inappropriately shared information and manipulation of spot FX currency rates.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Switzerland
publicly traded
financial services
banking & securities
CH0244767585
https://www.fca.org.uk/news/press-releases/fca-fines-five-banks-%C2%A311-billion-fx-failings-and-announces-industry-wide-remediation-programme
UK21-16758
Deutsche Bank AG
Deutsche Bank
Deutsche Bank
226800000
2015
20150423
competition-related offences
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Deutsche Bank paid a £226 million fine in settlement of a finding by the FCA that the company attempted manipulation of IBOR rates and was unacceptably misleading, slow and ineffective in responding to the Authority's enquiries.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Germany
publicly traded
financial services
banking & securities
DE0005140008
https://www.fca.org.uk/news/press-releases/deutsche-bank-fined-%C2%A3227-million-financial-conduct-authority-libor-and-euribor
UK21-16749
Citibank N.A.
Citigroup
Citigroup
225575000
2014
20141211
competition-related offences
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Citibank N.A., HSBC Bank Plc, JPMorgan Chase Bank N.A., The Royal Bank of Scotland Plc and UBS AG were fined a total of £1.1 billion in settlements with the FCA of findings that they failed to have adequate systems and controls over their foreign exchange businesses, allowing traders to engage in market abuse that put the firms' interests ahead of their clients, with inappropriately shared information and manipulation of spot FX currency rates.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
banking & securities
US1729674242
https://www.fca.org.uk/news/press-releases/fca-fines-five-banks-%C2%A311-billion-fx-failings-and-announces-industry-wide-remediation-programme
UK21-16759
JPMorgan Chase Bank N.A.
JPMorgan Chase
JPMorgan Chase
222166000
2014
20141211
competition-related offences
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Citibank N.A., HSBC Bank Plc, JPMorgan Chase Bank N.A., The Royal Bank of Scotland Plc and UBS AG were fined a total of £1.1 billion in settlements with the FCA of findings that they failed to have adequate systems and controls over their foreign exchange businesses, allowing traders to engage in market abuse that put the firms' interests ahead of their clients, with inappropriately shared information and manipulation of spot FX currency rates.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
banking & securities
US46625H1005
https://www.fca.org.uk/news/press-releases/fca-fines-five-banks-%C2%A311-billion-fx-failings-and-announces-industry-wide-remediation-programme
UK21-16760
The Royal Bank of Scotland plc
NatWest Group PLC
NatWest Group PLC
217000000
2014
20141211
competition-related offences
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Citibank N.A., HSBC Bank Plc, JPMorgan Chase Bank N.A., The Royal Bank of Scotland Plc and UBS AG were fined a total of £1.1 billion in settlements with the FCA of findings that they failed to have adequate systems and controls over their foreign exchange businesses, allowing traders to engage in market abuse that put the firms' interests ahead of their clients, with inappropriately shared information and manipulation of spot FX currency rates.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking & securities
GB00B7T77214
https://www.fca.org.uk/news/press-releases/fca-fines-five-banks-%C2%A311-billion-fx-failings-and-announces-industry-wide-remediation-programme
UK21-16761
HSBC Bank plc
HSBC
HSBC
216363000
2014
20141211
competition-related offences
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Citibank N.A., HSBC Bank Plc, JPMorgan Chase Bank N.A., The Royal Bank of Scotland Plc and UBS AG were fined a total of £1.1 billion in settlements with the FCA of findings that they failed to have adequate systems and controls over their foreign exchange businesses, allowing traders to engage in market abuse that put the firms' interests ahead of their clients, with inappropriately shared information and manipulation of spot FX currency rates.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0005405286
https://www.fca.org.uk/news/press-releases/fca-fines-five-banks-%C2%A311-billion-fx-failings-and-announces-industry-wide-remediation-programme
UK21-16762
Virgin Holidays Ltd and Virgin Atlantic Airways Ltd. and Virgin Atlantic Ltd.
Virgin Group
Virgin Group
203000000
2020
20201012
consumer-protection-related offences
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Virgin Holidays agreed to pay refunds estimated at £203 million to customers requesting money back for holidays that were cancelled due to the pandemic and to do so as close to the legally required 14 days as possible, following an investigation by the CMA of complaints that refunds were delayed.
agency action
Undertaking with the CMA
UK-CMA
Competition and Markets Authority
United Kingdom
privately held
diversified
diversified
https://www.gov.uk/cma-cases/covid-19-cancellations-package-holidays
UK21-190
Deutsche Bank AG
Deutsche Bank
Deutsche Bank
163076224
2017
20170130
financial offences
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Deutsche Bank paid a £154 million fine and made a £9 million disgorgement in settlement of a finding by the FCA that the company and an inadequate anti-money laundering control framework and had allowed a large amount of trades between its Moscow and London branches that should have been investigated as highly suggestive of financial crime.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Germany
publicly traded
financial services
banking & securities
DE0005140008
https://www.fca.org.uk/news/press-releases/fca-fines-deutsche-bank-163-million-anti-money-laundering-controls-failure
UK21-16731
UBS AG
UBS
UBS
160000000
2012
20121219
competition-related offences
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UBS paid a £160 million fine in settlement of a finding by the FSA that the company's employees colluded with individuals both inside and outside the bank, and with other businesses, to influence the LIBOR and EURIBOR rates for their benefit.
agency action
settlement of FSA Decision
UK-FSA
Financial Services Authority
Switzerland
publicly traded
financial services
banking & securities
CH0244767585
https://webarchive.nationalarchives.gov.uk/20130402201303/http://www.fsa.gov.uk/library/communication/pr/2012/116.shtml
UK21-16846
National Grid Electricity Transmission plc and Scottish Power Transmission plc
National Grid
National Grid
158000000
2021
20211130
competition-related offences
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National Grid Electricity Transmission plc and Scottish Power Transmission plc agreed to pay a £158 million consumer redress package following a finding by Ofgem that delays to the Western Link Project and a resulting lack of capacity to deliver renewable electricity led to higher costs for customers.
agency action
settlement with Ofgem
UK-OFGEM
Office of Gas and Electricity Markets
United Kingdom
publicly traded
utilities and power generation
utilities
GB00BDR05C01
https://www.ofgem.gov.uk/publications/ps158-million-redress-two-year-delay-major-western-link-subsea-cable
UK21-65924
JPMorgan Chase Bank N.A.
JPMorgan Chase
JPMorgan Chase
137610000
2013
20130918
financial offences
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JPMorgan Chase paid a £137 million fine in settlement of a finding by the FCA that the company failed to adequately manage the risks of trading in its Synthetic Credit Portfolio, failed to prevent traders concealing losses, and failed to be open and cooperative with the FCA.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
banking & securities
US46625H1005
https://www.fca.org.uk/news/press-releases/jpmorgan-chase-bank-na-fined-%C2%A3137610000-serious-failings-relating-its-chief
UK21-16792
Tesco Stores Limited
Tesco PLC
Tesco PLC
132000000
2019
20190123
financial offences
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According to the SFO, between February and September 2014, instead of working to safeguard the financial interests of the company and its shareholders, a culture existed at Tesco that encouraged illegal practices to meet accounting targets, including improperly recognised income in the UK accounts, by pulling forward income from subsequent reporting periods. A deferred prosecution agreement was announced in 2017 but its details were not revealed until 2019.
agency action
deferred prosecution agreement
UK-SFO
Serious Fraud Office
United Kingdom
publicly traded
retailing
retail-supermarkets
GB00BLGZ9862
https://www.sfo.gov.uk/2019/01/23/deferred-prosecution-agreement-between-the-sfo-and-tesco-published/
UK21-52465
Auden Mckenzie and Actavis UK
Intas Pharmaceuticals Ltd.
Intas Pharmaceuticals Ltd.
In 2015 Auden McKenzie was acquired by Actavis PLC, which sold its generics business in 2016 to Teva Pharmaceuticals, which sold its UK generics business to Accord Healthcare, a subsidiary of Intas Pharmaceuticals, in 2017.
130000000
2023
20230918
competition-related offences
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The Competition Appeal Tribunal upheld a finding by the Competition and Markets Authority that Auden/Actavis UK abused a dominant market position to increase the price of hydrocortisone tablets over a decade by over 10,000%, imposing a fine of about £130 million.
UK-CMA
Competition and Markets Authority
India
privately held
pharmaceuticals
pharmaceuticals
https://www.gov.uk/government/news/cma-decision-upheld-in-major-drug-price-abuse-case
UK21-96219
Southern Water
Macquarie
Southern Water
Southern Water’s ultimate parent are Greensands Holdings, those major shareholders were IIF (advised by JP Morgan) and The Northern Trust Co. (exited 2016), with no majority owner. In 2021 a fund managed by Macquarie acquired a majority stake.
126000000
2019
20190625
consumer-protection-related offences
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Southern Water agreed to pay £126m in penalties and payments to customers following serious failures in the operation of its sewage treatment sites and for deliberately misreporting its performance.
agency action
UK-OFWAT
Water Services Regulation Authority
Australia
publicly traded
financial services
financial services
AU000000MQG1
https://www.ofwat.gov.uk/pn-12-19-southern-water-to-pay-126m-following-ofwat-investigation/
UK21-54670
The Bank of New York Mellon International Limited et al.
Bank of New York Mellon
Bank of New York Mellon
126000000
2015
20150414
financial offences
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The Bank of New York Mellon London branch and The Bank of New York Mellon International Limited paid a £126 million fine in settlement of a finding by the FCA that the companies failed to comply with custody rules to ensure they had adequate controls and records to protect client assets.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
banking
US0640581007
https://www.fca.org.uk/news/press-releases/fca-fines-bank-new-york-mellon-london-branch-and-bank-new-york-mellon
UK21-16752
Thames Water Utilities Limited
Thames Water Utilities Ltd.
Thames Water Utilities Ltd.
120000000
2018
20180808
consumer-protection-related offences
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Ofwat confirmed that Thames Water will pay £65M back to its customers as part of a total package of payments and penalties worth £120M. This followed an Ofwat investigation into Thames' failure to meet commitments it made to its customers to tackle leakage. As part of that investigation, Ofwat found that Thames Water's Board did not pay enough attention to reducing leakage, and underestimated its legal responsibility for oversight of its leakage operations and the responsibilities of its Board.
agency action
UK-OFWAT
Water Services Regulation Authority
United Kingdom
privately held
utilities and power generation
water and sewer services
https://www.ofwat.gov.uk/pn34-18-ofwat-confirms-package-payments-penalties-thames-water-following-leakage-failures/
UK21-54671
Lloyds Bank plc and Bank of Scotland plc and Black Horse Limited
Lloyds Banking Group
Lloyds Banking Group
117430600
2015
20150604
consumer-protection-related offences
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Lloyds Bank and subsidiaries paid £117 million fines in settlement of a finding by the FCA that they did not fairly handle customers complaints about the mis-selling of Payment Protection Insurance by not providing full information to complaint handlers and allowing a default assumption that the company had not mis-sold PPI.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0008706128
https://www.fca.org.uk/news/press-releases/lloyds-banking-group-fined-%C2%A3117m-failing-handle-ppi-complaints-fairly
UK21-16747
British Telecommunications plc
BT
BT
117042000
2012
20121220
competition-related offences
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BT was ordered to repay £94.8 million to the companies Sky UK Ltd., TalkTalk Telecom Group plc, Virgin Media Ltd., Cable & Wireless Worldwide plc, and Verizon UK Ltd. in a finding that BT had overcharged them for certain Ethernet services. Appeals slightly reduced the amount but added interest, for a net additional £22.2 million.
agency action
UK-OFCOM
Office of Communications
United Kingdom
publicly traded
telecommunications
telecommunications
GB0030913577
https://www.ofcom.org.uk/about-ofcom/latest/bulletins/competition-bulletins/all-closed-cases/cw_01087
UK21-51756
Santander UK Plc
Banco Santander
Banco Santander
107793300
2022
20221209
financial offences
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Santander was fined £107 million in settlement of a finding by the FCA that the bank failed to properly oversee and manage its anti money-laundering systems over several years.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Spain
publicly traded
financial services
banking
ES0113900J37
https://www.fca.org.uk/news/press-releases/fca-fines-santander-uk-repeated-anti-money-laundering-failures
UK21-83197
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.
Rabobank
Rabobank
105000000
2013
20131029
competition-related offences
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Rabobank paid a £105 million fine in settlement of a finding by the FCA that the company's managers and employees sought to manipulate LIBOR in collusion with other brokers and Panel Banks.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Netherlands
cooperative
financial services
financial services
https://www.fca.org.uk/news/press-releases/fca-fines-rabobank-%C2%A3105-million-serious-libor-related-misconduct
UK21-16788
Lloyds Bank plc and Bank of Scotland plc
Lloyds Banking Group
Lloyds Banking Group
105000000
2014
20140728
competition-related offences
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Lloyds Bank and Bank of Scotland paid £105 million in settlement of a finding by the FCA that the companies manipulated both LIBOR and the SLS Spread, the figure used to calculate fees paid to the Bank of England by the companies benefiting from the Special Liquidity Scheme during the 2008 financial crisis.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0008706128
https://www.fca.org.uk/news/press-releases/lloyds-banking-group-fined-%C2%A3105m-serious-libor-and-other-benchmark-failings
UK21-16771
Amec Foster Wheeler Limited
Wood Group
Wood Group
103000000
2021
20210702
competition-related offences
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The Serious Fraud Office entered into a Deferred Prosecution Agreement (DPA) with Amec Foster Wheeler Limited (AFWEL) relating to the use of corrupt agents in the oil and gas sector. In entering into the DPA, AFWEL has taken responsibility for ten offences of corruption relating to the use of corrupt agents in the oil and gas sector by the legacy Foster Wheeler business. The offences spanned from 1996 to 2014 and took place across the world, in Nigeria, Saudi Arabia, Malaysia, India and Brazil.
agency action
deferred prosecution agreement
UK-SFO
Serious Fraud Office
United Kingdom
publicly traded
oilfield services and supplies
oilfield services
GB00B5N0P849
https://www.sfo.gov.uk/2021/07/02/sfo-enters-into-103m-dpa-with-amec-foster-wheeler-energy-limited-as-part-of-global-resolution-with-us-and-brazilian-authorities/
UK21-52455
Standard Chartered Bank
Standard Chartered
Standard Chartered
102163200
2019
20190409
financial offences
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Standard Chartered paid a fine of £102 million in settlement of a finding by the FCA that the company failed to establish and maintain anti-money laundering procedures, leading to the bank being at risk of breaching sanctions and laundering the proceeds of crime. US authorities took action against Standard Charter for alleged sanctions violations in a related investigation.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0004082847
https://www.fca.org.uk/news/press-releases/fca-fines-standard-chartered-bank-102-2-million-poor-aml-controls
UK21-16714
Yorkshire Water
Kelda Group
Kelda Group
England and Wales
100000000
2022
20221013
consumer-protection-related offences
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Yorkshire Water agreed to invest an additional £100 million to reduce spills to the environment from storm overflows in addition to already committed investment, in an undertaking with Ofwat settling concerns that the company had made inter-company loans to associated companies to an extent that could leave Yorkshire Water without the financial resilience to carry out its licence obligations to customers and the environment.
agency action
Untertaking with Ofwat
UK-OFWAT
Water Services Regulation Authority
United Kingdom
privately held
utilities and power generation
water and sewer services
https://www.ofwat.gov.uk/investigation-into-yorkshire-water-in-relation-to-inter-company-loans-with-one-of-its-associated-businesses/
UK21-83168
Serco Geografix Ltd
Serco Group
Serco Group
91400000
2019
20190704
financial offences
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In entering a deferred prosecution agreement, SGL took responsibility for three offences of fraud and two of false accounting arising from a scheme to dishonestly mislead the Ministry of Justice as to the true extent of the profits being made between 2010 and 2013 by SGL's parent company, Serco Limited (SL), from its contract for the provision of electronic monitoring services. The company had already paid £68.5 million in restitution for the overcharges discovered in a 2013 audit.
deferred prosecution agreement
UK-SFO
Serious Fraud Office
United Kingdom
publicly traded
miscellaneous services
outsourced government services
GB0007973794
https://www.sfo.gov.uk/2019/07/04/sfo-completes-dpa-with-serco-geografix-ltd/
Penalty amount includes the £22.9 million fine for the settlement with a Serious Fraud Office, and the £68.5 million restitution paid to the Ministry of Justice in 2013.
UK21-101377
Lloyds Bank General Insurance Limited
Lloyds Banking Group
Lloyds Banking Group
90688400
2021
20210708
consumer-protection-related offences
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The FCA fined LBGI (Lloyds Bank General Insurance Limited, St Andrew's Insurance Plc, Lloyds Bank Insurance Services Limited and Halifax General Insurance Services Limited) £90,688,400 for failing to ensure that language contained within millions of home insurance renewals communications was clear, fair and not misleading.
agency action
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0008706128
https://www.fca.org.uk/news/press-releases/fca-fines-lbgi-90-million-failures-communications-home-insurance-renewals-2009-2017
UK21-16688
SOUTHERN WATER SERVICES LTD
Macquarie
Southern Water
Southern Water’s ultimate parent are Greensands Holdings, those major shareholders were IIF (advised by JP Morgan) and The Northern Trust Co. (exited 2016), with no majority owner. Later in 2021 a fund managed by Macquarie acquired a majority stake.
Worthing
90000000
2021
20210907
environment-related offences
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Southern Water has been handed a record £90 million fine after pleading guilty to thousands of illegal discharges of sewage which polluted rivers and coastal waters in Kent, Hampshire and Sussex.
agency action
court case
UK-EA
Environment Agency
Australia
publicly traded
financial services
financial services
AU000000MQG1
https://www.gov.uk/government/news/record-90m-fine-for-southern-water-following-ea-prosecution
UK21-61209
The Royal Bank of Scotland plc
NatWest Group PLC
NatWest Group PLC
87500000
2013
20130206
competition-related offences
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RBS paid £87.5 million in settlement of a finding by the FSA that the company's employees sought to manipulate LIBOR through collusion in the company and with other banks and traders.
agency action
settlement of FSA Decision
UK-FSA
Financial Services Authority
United Kingdom
publicly traded
financial services
banking & securities
GB00B7T77214
https://www.fca.org.uk/publication/final-notices/rbs.pdf
UK21-16844
Credit Suisse International and Credit Suisse Securities (Europe) Ltd
UBS
UBS
87082000
2023
20230724
financial offences
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Credit Suisse was fined £87 million in a finding by an investigation involving the PRA of significant failures in risk management and governance in connection with the firms' exposure (by providing prime brokerage services and equity total return swaps) to Archegos Capital Management, which defaulted in 2021 with approximately $5.1 billion of losses.
UK-PRA
Prudential Regulation Authority
Switzerland
publicly traded
financial services
banking & securities
CH0244767585
https://www.bankofengland.co.uk/news/2023/july/the-pra-imposes-record-fine-of-87m-on-credit-suisse
UK21-109738
Petrofac Limited
Petrofac Limited
Petrofac Limited
77034625
2021
20211004
competition-related offences
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Petrofac Limited pleaded guilty to failing to prevent former senior executives of the Petrofac group of subsidiaries from using agents to systematically bribe officials, to win oil contracts in Iraq, Saudi Arabia and the United Arab Emirates. Petrofac Limited was ordered to pay confiscation of GBP 22,836,985, they were fined over GBP 47,197,640 and the SFO's costs of GBP 7 million.
agency action
UK-SFO
Serious Fraud Office
Jersey
publicly traded
oilfield services and supplies
oilfield services
GB00B0H2K534
https://www.sfo.gov.uk/2021/10/04/serious-fraud-office-secures-third-set-of-petrofac-bribery-convictions/
UK21-63001
Coats Group plc
Coats Group PLC
Coats Group PLC
74000000
2017
20170601
employment-related offences
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Coats Group agreed to pay £255.5 million to two pension schemes, and £74 million to a third pension scheme, in settlement of a Warning Notice by TPR alleging the company was liable for substantial deficits in the schemes, which would be left insufficiently resourced and with high levels of risk following Coats selling off its investment shareholdings and allocating the majority of benefit to shareholders.
agency action
Settlement with TPA
UK-TPR
The Pensions Regulator
United Kingdom
publicly traded
miscellaneous manufacturing
sewing supplies
GB00B4YZN328
https://www.thepensionsregulator.gov.uk/-/media/thepensionsregulator/files/import/pdf/regulatory-intervention-section-89-coats.ashx
UK21-54647
Barclays Bank plc
Barclays
Barclays
72069400
2015
20151125
financial offences
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Barclays paid a £19,769,400 fine and made a £52,300,000 disgorgement in settlement of a finding by the FCA that the company did exercise due skill, care and diligence in managing the risk of financial crime when it decided that clients with large deposits and confidentiality demands required it to address the financial crime risks in an ad hoc way instead of through normal departments.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0031348658
https://www.fca.org.uk/news/press-releases/fca-fines-barclays-%C2%A372-million-poor-handling-financial-crime-risks
UK21-16741
Lloyds Bank plc and Bank of Scotland plc and The Mortgage Business plc
Lloyds Banking Group
Lloyds Banking Group
64046800
2020
20200611
financial offences
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Lloyds Bank and subsidiaries paid £64 million fines in settlement of findings by the FCA that they did not fairly handle mortgage customers in payment difficulties or arrears.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0008706128
https://www.fca.org.uk/news/press-releases/fca-fines-lloyds-bank-bank-scotland-mortgage-business-failures-mortgage-arrears
UK21-16702
HSBC Bank plc
HSBC
HSBC
63946800
2021
20211217
financial offences
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HSBC agreed to pay £63 million in settlement of a finding by the FCA that the company's anti-money laundering processes had serious failings over a period of eight years.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0005405286
https://www.fca.org.uk/news/press-releases/fca-fines-hsbc-bank-plc-deficient-transaction-monitoring-controls
UK21-65923
Pfizer Limited
Pfizer
Pfizer
63300000
2022
20220721
competition-related offences
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Pfizer and Flynn were fined £63 million and £6.7 million respectively after a finding by the CMA that the companies illegally exploited their dominant market position to charge the NHS excessive prices for phenytoin sodium capsules, an anti-epilepsy medicine, with Pfizer stopping sale of its price regulated branded version and transferring the contract to Flynn who sold the same phenytoin as a generic price unregulated drug with over 1000% price increases.
agency action
UK-CMA
Competition and Markets Authority
United States
publicly traded
pharmaceuticals
pharmaceuticals
US7170811035
https://www.gov.uk/government/news/70-million-in-fines-for-pharma-firms-that-overcharged-nhs
UK21-75017
Chemtura Corp. and Chemtura Manufacturing UK Ltd.
Lanxess
Chemtura
Lanxess acquired Chemtura in 2017.
60000000
2011
20110501
employment-related offences
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Chemtura and the Great Lakes UK Limited Pension Plan agreed to a settlement with £60 million support for the pension fund after concerns by TPR that the Chapter 11 bankruptcy of Chemtura in the US threatened the financial position of the fund.
agency action
Settlement after warning notice from TPR
UK-TPR
The Pensions Regulator
Germany
publicly traded
chemicals
chemicals
DE0005470405
https://www.thepensionsregulator.gov.uk/-/media/thepensionsregulator/files/import/pdf/section-89-great-lakes.ashx
UK21-54666
Barclays Bank plc
Barclays
Barclays
59500000
2012
20120627
competition-related offences
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Barclays paid a £59.5 million fine in settlement of a finding by the FSA that the company's employees colluded with individuals both inside and outside the bank, and with other businesses, to influence the LIBOR and EURIBOR rates for their benefit.
agency action
settlement of FSA Decision
UK-FSA
Financial Services Authority
United Kingdom
publicly traded
financial services
banking
GB0031348658
https://webarchive.nationalarchives.gov.uk/20130402202450/http://www.fsa.gov.uk/library/communication/pr/2012/070.shtml
UK21-16858
British Airways
International Airlines Group
International Airlines Group
58500000
2012
20120419
competition-related offences
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British Airways paid a £58.5 million fine in settlement of a decision by the OFT that the company engaged in anti-competitive practices along with Virgin Atlantic to coordinate their passenger fuel surcharges through exchange of commercially sensitive information. Virgin Atlantic was granted immunity to a fine under the OFT leniency policy having brought the matter to the OFT's attention.
agency action
Settlement with OFT
UK-OFT
Office of Fair Trading
United Kingdom
publicly traded
airlines
airlines
ES0177542018
https://www.gov.uk/cma-cases/airline-passenger-fuel-surcharges-on-long-haul-flights-price-fixing
UK21-51852
HSBC Bank plc and HSBC UK Bank plc
HSBC
HSBC
57417500
2024
20240130
financial offences
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HSBC was fined £57 million following a finding by the PRA that they failed to put in place adequate systems and controls, and governance, to ensure the integrity of critical information which the Financial Services Compensation Scheme relies upon to make prompt payments to depositors in the event of a firm failure.
UK-PRA
Prudential Regulation Authority
United Kingdom
publicly traded
financial services
banking
GB0005405286
https://www.bankofengland.co.uk/news/2024/january/pra-fines-hsbc-for-failures-in-deposit-protection-identification-and-notifcation
UK21-109737
Flybe Limited
Flybe Limited
Connect Airways
Flybee Group entered administration later in 2020. The brand and assets were transferred to a new company funded by Cyrus Capital, with the name Flybe Ltd.
England
51885049
2020
20201001
environment-related offences
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Civil penalty for failure to surrender sufficient allowances for the 2019 compliance year by 30 April 2020 contrary to Regulation 42(A)(2) of The Greenhouse Gas Emissions Trading Scheme Regulations 2012 (as amended)
agency action
Climate change regime violation
UK-EA
Environment Agency
United Kingdom
privately held
airlines
airline
https://environment.data.gov.uk/portalstg/home/item.html?id=3b6567e11ba544a28461657152a25dfc
UK21-15952
Facebook
Meta Platforms Inc.
Meta Platforms Inc.
50500000
2021
20211020
competition-related offences
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The CMA fined Facebook £50.5 million for breaching an initial enforcement order imposed by the agency during its investigation into Facebook's purchase of Giphy. This was the first time a company has been found by the CMA to have breached an IEO by consciously refusing to report all the required information.
agency action
UK-CMA
Competition and Markets Authority
United States
publicly traded
information technology
internet services
US30303M1027
https://www.gov.uk/government/news/cma-fines-facebook-over-enforcement-order-breach
UK21-63107
Royal Mail plc
International Distributions Services PLC
International Distributions Services PLC
In 2022 the holding company Royal Mail plc was renamed International Distributions Services plc.
50000000
2018
20180814
competition-related offences
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Royal Mail was fined £50 million in a finding by Ofcom that the company abused its market position by making competitors pay higher prices than companies that were not competing in mail delivery.
agency action
UK-OFCOM
Office of Communications
United Kingdom
publicly traded
miscellaneous services
postal and package delivery services
GB00BDVZYZ77
https://www.ofcom.org.uk/about-ofcom/latest/features-and-news/royal-mail-whistl-competition-law
UK21-51735
Goldman Sachs International
Goldman Sachs
Goldman Sachs
48308400
2020
20201022
financial offences
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The PRA said it took action in light of GSI's failings arising from its involvement as arranger, initial purchaser and underwriter in three bond transactions in 2012 and 2013 for 1Malaysia Development Berhad (1MDB), a strategic investment and development company wholly-owned by the Malaysian government. The PRA stated that GSI failed to assess and manage risk to the heightened standard that was required of it.
agency action
UK-PRA
Prudential Regulation Authority
United States
publicly traded
financial services
banking & securities
US38141G1040
https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/regulatory-action/final-notice-to-goldman-sachs-international.pdf?la=en&hash=0905E04952BFE7C4B05B7AFBB11467F21A069E3F
UK21-52354
Goldman Sachs International
Goldman Sachs
Goldman Sachs
48308400
2020
20201021
financial offences
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Goldman Sachs paid a total of £96.6 million in fines to the FCA and PRA in settlement of a finding the company failed to properly assess risks and manage allegations of bribery and misconduct when it arranged three bond transactions with 1MDB, a fund that collapsed with alleged fraud. The fines were part of a $2.9 billion globally coordinated resolution.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
banking & securities
US38141G1040
https://www.fca.org.uk/news/press-releases/fca-pra-fine-goldman-sachs-international-risk-management-failures-1mdb
UK21-16699
Monarch Airlines Limited
Monarch Airlines Limited
Monarch Airlines Limited
England
48154044
2020
20201001
environment-related offences
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Civil penalty for failure to surrender sufficient allowances for the 2017 compliance year by 30 April 2018 contrary to Regulation 42(A)(2) of The Greenhouse Gas Emissions Trading Scheme Regulations 2012 (as amended)
agency action
Climate change regime violation
UK-EA
Environment Agency
United Kingdom
out of business
airlines
airline
https://environment.data.gov.uk/portalstg/home/item.html?id=3b6567e11ba544a28461657152a25dfc
UK21-15953
Standard Chartered Bank
Standard Chartered
Standard Chartered
46550000
2021
20211220
financial offences
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The Prudential Regulation Authority imposed a financial penalty on Standard Chartered Bank of £46.55 million for failing to be open and cooperative with the PRA and for failings in its regulatory reporting governance and controls in relation to a tailored PRA liquidity expectation.
agency action
UK-PRA
Prudential Regulation Authority
United Kingdom
publicly traded
financial services
banking
GB0004082847
https://www.bankofengland.co.uk/news/2021/december/pra-final-notice-to-standard-chartered-bank-dated-20-december-2021
UK21-65922
Bank of Scotland
Lloyds Banking Group
Lloyds Banking Group
45500000
2019
20190620
financial offences
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Bank of Scotland paid a £45.5 million fine in settlement of an FCA finding that the company failed to report suspicious conduct by persons associated with the company who were later prosecuted for fraud.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0008706128
https://www.fca.org.uk/news/press-releases/fca-fines-bank-scotland-failing-report-suspicions-fraud
UK21-16711
G4S Care and Justice Services (UK) Ltd
Allied Universal Security Services
G4S
G4S plc was acquired by Allied Universal and taken private in 2021.
44400000
2020
20200710
financial offences
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fraud against the Ministry of Justice in connection with electronic monitoring contracts
agency action
deferred prosecution agreement
UK-SFO
Serious Fraud Office
United States
privately held
business services
security services
https://www.sfo.gov.uk/2020/07/10/sfo-receives-approval-in-principle-for-dpa-with-g4s-care-and-justice-services-uk-ltd/ and https://www.sfo.gov.uk/cases/g4s/
UK21-52458
Cadent Gas Limited
Cadent Gas Limited
Cadent Gas Limited
44000000
2019
20190522
competition-related offences
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Ofgem decided to conclude enforcement action under the the alternative action guidelines following Cadent's remedial action of spending £24 million on a restitution and improvement plan and an estimated £20 million setting up a community fund, following concerns by Ofgem that the company's records about its network were not accurate, thus breaching its licence requirements to maintain an efficient and economic gas pipeline system and resulting in customers being without gas supply and unable to receive the required compensation.
UK-OFGEM
Office of Gas and Electricity Markets
United Kingdom
privately held
utilities and power generation
natural gas distribution
https://www.ofgem.gov.uk/publications/cadent-pays-ps24-million-past-failures-and-establishes-ps20-million-community-fund
UK21-90698
Citigroup Global Markets Limited, Citibank N.A. London branch and Citibank Europe Plc UK branch
Citigroup
Citigroup
43890000
2019
20191126
financial offences
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During the Relevant Period, according to the PRA, the three entities breached Fundamental Rule 6 because they failed to organise and control their affairs responsibly and effectively to ensure that they complied with their UK regulatory reporting obligations.
agency action
UK-PRA
Prudential Regulation Authority
United States
publicly traded
financial services
banking & securities
US1729674242
https://www.bankofengland.co.uk/-/media/boe/files/news/2019/november/pra-decision-notice-citigroup.pdf?la=en&hash=4030FC4D482DF4C330A367A7A1A97E4649FB2968
UK21-52355
British Telecommunications plc
BT
BT
42000000
2017
20170326
competition-related offences
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BT paid £42 million in settlement of a finding by Ofcom that the company misused terms in its contracts to reduce compensations payments owed to other telecoms providers for failing to deliver ethernet leased line services on time. BT's dominant position in network infrastructure require it follow regulations promoting competition in services.
agency action
settlement with Ofcom
UK-OFCOM
Office of Communications
United Kingdom
publicly traded
telecommunications
telecommunications
GB0030913577
https://www.ofcom.org.uk/about-ofcom/latest/bulletins/competition-bulletins/all-closed-cases/cw_01170
UK21-51743
Royal Bank of Scotland Plc and National Westminster Bank Plc and Ulster Bank Plc
NatWest Group PLC
NatWest Group PLC
42000000
2014
20141119
financial offences
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RBS, NatWest and Ulster Bank Ltd paid £42 million in settlement of a finding by the FCA that they failed to have adequate IT systems, allowing a failed software update to disable online transaction systems leaving millions of customers unable to assess accounts with problems that went on for several weeks. This was a joint action with the Prudential Regulation Authority which fined the banks £14 million (see separate entry).
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking & securities
GB00B7T77214
https://www.fca.org.uk/news/press-releases/fca-fines-rbs-natwest-and-ulster-bank-ltd-%C2%A342-million-it-failures
UK21-16763
Advanz Pharma
Nordic Capital
Nordic Capital
40900000
2021
20210729
competition-related offences
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The Competition and Markets Authority (CMA) found that from 2009 until 2017 the pharmaceutical company Advanz charged excessive and unfair prices for supplying liothyronine tablets which are used to treat thyroid hormone deficiency. The agency also fined two private equity firms, HGCapital and Cinven, that previously owned parts of the business.
agency action
UK-CMA
Competition and Markets Authority
Sweden
privately held
private equity (including portfolio companies)
private equity (including portfolio companies)
https://www.gov.uk/government/news/cma-fines-pharma-firm-over-pricing-of-crucial-thyroid-drug
UK21-158
Welsh Water
Dwr Cymru Cyfyngedig (Welsh Water)
Dwr Cymru Cyfyngedig (Welsh Water)
39400000
2024
20240314
environment-related offences
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Ofwat issued a finding that Welsh Water misled customers and regulators on its performance on leakage and per capita consumption data, and that the company must provide £39.4 million redress for customers.
UK-OFWAT
Water Services Regulation Authority
United Kingdom
non-profit
utilities and power generation
water services
https://www.ofwat.gov.uk/welsh-water-to-pay-40-million-following-ofwat-investigation/
UK21-111114
Commerzbank AG
Commerzbank
Commerzbank
37805400
2020
20200617
financial offences
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Commerzbank paid a £37 million fine in settlement of a finding by the FCA that the company failed to have adequate anti-money laundering systems and controls in place from 2012 to 2017.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Germany
publicly traded
financial services
banking
DE000CBK1001
https://www.fca.org.uk/news/press-releases/fca-fines-commerzbank-london-37805400-over-anti-money-laundering-failures
UK21-16701
Barclays Bank plc
Barclays
Barclays
37745000
2014
20140923
financial offences
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Barclays paid a £37.7 million fine in settlement of a finding by the FCA that the Investment Banking Division of the company failed to properly protect client's assets worth £16.5 billion, data errors and failure to follow Client Asset Rules across countries meaning records did not correctly reflect which company in the Investment Banking Division was responsible for assets in the account and could suggest assets belonged to Barclays instead of its clients.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0031348658
https://www.fca.org.uk/news/press-releases/barclays-fined-%C2%A338-million-putting-%C2%A3165-billion-client-assets-risk
UK21-16767
InterGen
37200000
2020
20200415
competition-related offences
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InterGen agreed to pay £37.2 million in settlement of a finding by Ofgem that it sent misleading signals to National Grid Electricity System Operator in winter 2016 about the energy it could supply to make substantial profits.
Agreement to pay reduced fee for early resolution
UK-OFGEM
Office of Gas and Electricity Markets
https://www.ofgem.gov.uk/publications/ofgem-requires-intergen-pay-ps37m-over-energy-market-abuse
UK21-90693
Cinven
Cinven Group
Cinven Group
37100000
2021
20210729
competition-related offences
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The Competition and Markets Authority (CMA) found that from 2009 until 2017 the pharmaceutical company Advanz charged excessive and unfair prices for supplying liothyronine tablets which are used to treat thyroid hormone deficiency. The agency also fined two private equity firms, HGCapital and Cinven, that previously owned parts of the business.
UK-CMA
Competition and Markets Authority
United Kingdom
privately held
private equity (including portfolio companies)
private equity (including portfolio companies)
https://www.gov.uk/government/news/cma-fines-pharma-firm-over-pricing-of-crucial-thyroid-drug
Cinven’s fine was reduced to £37.1 million on appeal in 2023.
UK21-96059
Merrill Lynch International
Bank of America
Bank of America
34524000
2017
20171018
financial offences
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Merrill Lynch paid a £34.5 million fine in settlement of a finding by the FCA that the company failed to report 68.5 million transactions in exchange traded derivatives because it had insufficient oversight and resources allocated.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
banking
US0605051046
https://www.fca.org.uk/news/press-releases/fca-fines-merrill-lynch-failing-report-transactions
UK21-16729
Goldman Sachs International
Goldman Sachs
Goldman Sachs
34344700
2019
20190327
financial offences
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Goldman Sachs paid a £34.3 million fine in settlement of a finding by the FCA that the company failed to have reasonable systems in place to follow transaction reporting requirements, thus failing to report approximately 15% of its transactions during the relevant period.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
banking & securities
US38141G1040
https://www.fca.org.uk/news/press-releases/fca-fines-goldman-sachs-international-transaction-reporting-failures
UK21-16715
J.P. Morgan Securities Ltd.
JPMorgan Chase
JPMorgan Chase
33320000
2010
20100525
financial offences
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J.P. Morgan Securities paid a £33.32 million fine in settlement of a finding by the FSA that the company failed to maintain adequate accounts with trust status to distinguish client assets accurately, risking loss to the client if the company became insolvent.
agency action
settlement of FSA Decision
UK-FSA
Financial Services Authority
United States
publicly traded
financial services
banking & securities
US46625H1005
https://webarchive.nationalarchives.gov.uk/20130409024928/http://www.fsa.gov.uk/pages/library/communication/pr/2010/089.shtml
UK21-16912
Serco Limited
Serco Group
Serco Group
33000000
2014
20141101
employment-related offences
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Serco and Docklands Light Railway agreed to pay a total of £37 million to the Docklands Light Railway Pension Scheme after TPR issued a warning notice requiring the parties to hire skilled persons to advise them, following concerns by TPR about the scheme's funding position.
agency action
Settlement with TPA
UK-TPR
The Pensions Regulator
United Kingdom
publicly traded
miscellaneous services
outsourced government services
GB0007973794
https://www.thepensionsregulator.gov.uk/-/media/thepensionsregulator/files/import/pdf/section-89-report-docklands-light-railway.ashx
UK21-54660
Santander UK plc
Banco Santander
Banco Santander
32817800
2018
20181219
financial offences
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Santander paid a £32.8 million fine in settlement of a finding by the FCA that the company failed to have suitable probate and bereavement processes resulting in funds in deceased customers' accounts taking an excessive time to identify or transfer.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Spain
publicly traded
financial services
banking
ES0113900J37
https://www.fca.org.uk/news/press-releases/santander-uk-plc-fined-serious-failings-its-probate-and-bereavement-process
UK21-16720
Thomas Cook Airlines Limited
England
32137926
2020
20201001
environment-related offences
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Civil penalty for failure to surrender sufficient allowances for the 2019 compliance year by 30 April 2020 contrary to Regulation 42(A)(2) of The Greenhouse Gas Emissions Trading Scheme Regulations 2012 (as amended)
agency action
Climate change regime violation
UK-EA
Environment Agency
https://environment.data.gov.uk/portalstg/home/item.html?id=3b6567e11ba544a28461657152a25dfc
UK21-15954
Mastercard
MasterCard
MasterCard
31560062
2022
20220118
competition-related offences
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Mastercard and four other payments companies were fined a total of £33 million by the Payment Systems Regulator for engaging in anti-competitive behaviour by agreeing not to compete or poach each other's clients. tps://www.paymentscardsandmobile.com/payment-systems-regulator-names-mastercard-in-pre-paid-card-cartel/
agency action
UK-PSR
Payment Systems Regulator
United States
publicly traded
financial services
financial services
US57636Q1040
https://www.psr.org.uk/news-updates/latest-news/news/the-psr-fines-five-companies-more-than-33-million-for-cartel-behaviour-in-the-prepaid-cards-market/
UK21-52105
Standard Life Assurance Limited
Phoenix Group Holdings PLC
Phoenix Group Holdings PLC
30792500
2019
20190723
financial offences
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Standard Life paid a £30.79 million fine in settlement of a finding by the FCA that the company failed to ensure fair and appropriate information was given to customers buying annuities.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
insurance and retirement services
GB00BGXQNP29
https://www.fca.org.uk/news/press-releases/fca-fines-standard-life-assurance-limited-30-million
UK21-16709
HomeServe Membership Limited
Brookfield Corporation
Homeserve plc
Brookfield acquired HomeServe in 2023.
30647400
2014
20140212
consumer-protection-related offences
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HomeServe paid a £30.6 million fine in settlement of a finding by the FCA that the company had long running issues with failing to treat customers fairly when selling home emergency and repairs insurance cover, with lack of oversight of sales and remuneration that promoted selling of unsuitable products.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Canada
publicly traded
diversified
diversified
CA11271J1075
https://www.fca.org.uk/news/press-releases/homeserve-fined-%C2%A330-million-widespread-failings
UK21-16780
GPT Special Project Management Ltd/Airbus
Airbus
Airbus
30324920
2021
20210408
competition-related offences
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Airbus subsidiary GPT pleaded guilty to corruption between December 2008 and July 2010 in relation to contracts awarded to GPT in respect of work carried out for the Saudi Arabian National Guard. In sentencing GPT, the judge ordered the company to pay a confiscation order of £20,603,000, fine of £7,521,920, and costs of £2,200,000.
agency action
UK-SFO
Serious Fraud Office
France
publicly traded
aerospace and military contracting
aerospace & military contracting
NL0000235190
https://www.sfo.gov.uk/2021/04/28/gpt-pleads-guilty-to-corruption/
UK21-52456
BAE Systems plc
BAE Systems
BAE Systems
30000000
2010
20100205
competition-related offences
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The SFO reached an agreement with BAE Systems that the company would plead guilty in the Crown Court to an offence under section 221 of the Companies Act 1985 of failing to keep reasonably accurate accounting records in relation to its activities in Tanzania. The company agreed to pay £30 million comprising a financial order to be determined by a Crown Court judge with the balance paid as an ex gratia payment for the benefit of the people of Tanzania.
agency action
UK-SFO
Serious Fraud Office
United Kingdom
publicly traded
aerospace and military contracting
aerospace & military contracting
GB0002634946
https://web.archive.org/web/20120716141008/http://www.sfo.gov.uk//press-room/latest-press-releases/press-releases-2010/bae-systems-plc.aspx
UK21-52476
TSB Bank plc
Banco de Sabadell
Banco de Sabadell
29750000
2022
20221220
financial offences
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TSB agreed to pay a £29,750,000 fine to the FCA and a £18,900,000 fine to the PRA in settlement of findings that the bank failed to properly manage the operational risks of outsourcing arrangements leading to an IT upgrade programme failure causing customers to be unable to access banking services.
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Spain
publicly traded
financial services
banking
ES0113860A34
https://www.fca.org.uk/news/press-releases/tsb-fined-48m-operational-resilience-failings
UK21-84413
UBS AG
UBS
UBS
29700000
2012
20121126
financial offences
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UBS paid a £29.7 million fine in settlement of a finding by the FSA that the company failed to prevent large scale unauthorised trading, after a trader was convicted of fraud with $2.3 billion of losses in Global Synthetic Equities trading.
agency action
settlement of FSA Decision
UK-FSA
Financial Services Authority
Switzerland
publicly traded
financial services
banking & securities
CH0244767585
https://webarchive.nationalarchives.gov.uk/20130402200625/http://www.fsa.gov.uk/library/communication/pr/2012/105.shtml
UK21-16848
The Carphone Warehouse Limited
Currys PLC
Currys PLC
Dixons Carphone PLC changed its name to Currys PLC in 2021
29107600
2019
20190313
consumer-protection-related offences
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The Carphone Warehouse paid a £29.1 million fine in settlement of a finding by the FCA that the company mis-sold mobile phone insurance and technical support, with sales consultants inadequately trained to assess a customer's needs to determine whether the product was suitable.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
retailing
retail-technology products
GB00B4Y7R145
https://www.fca.org.uk/fca-fines-the-carphone-warehouse-over-29-million-for-insurance-misselling
UK21-16717
Royal Bank of Scotland Group plc
NatWest Group PLC
NatWest Group PLC
28590000
2011
20110120
competition-related offences
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RBS paid a £28.5 million fine in settlement of a decision by the OFT that it and Barclays engaged in anti-competitive actions by sharing confidential future pricing information for their loan products offered to large professional services firms. Barclays brought the matter to the OFT's attention and was granted immunity to a fine under the leniency policy.
agency action
Settlement with OFT
UK-OFT
Office of Fair Trading
United Kingdom
publicly traded
financial services
banking & securities
GB00B7T77214
https://www.gov.uk/cma-cases/loan-products-to-professional-service-firms-investigation-into-anti-competitive-practices
UK21-51905
Lloyds Bank plc and Bank of Scotland plc
Lloyds Banking Group
Lloyds Banking Group
28038800
2013
20131210
financial offences
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Lloyds Bank and Bank of Scotland paid £28 million in settlement of a finding by the FCA that the companies failed to control incentives to sales staff, resulting in unsuitable savings, insurance and investment products being sold to customers.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0008706128
https://www.fca.org.uk/publication/final-notices/lloyds-tsb-bank-and-bank-of-scotland.pdf
UK21-16785
UBS AG
UBS
UBS
27599400
2019
20190318
financial offences
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UBS paid a £27.6 million fine in settlement of a finding by the FCA that the company failed to have reasonable systems in place to follow transaction reporting requirements thus failing to submit approximately 3.65 million transaction reports and failing to accurately report approximately 83 million transactions.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
Switzerland
publicly traded
financial services
banking & securities
CH0244767585
https://www.fca.org.uk/news/press-releases/fca-fines-ubs-ag-276-million-transaction-reporting-failures
UK21-16716
Rio Tinto plc
Rio Tinto
Rio Tinto
27385400
2017
20171017
financial offences
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Rio Tinto paid a £27.3 million fine in settlement of a finding by the FCA that the company breached Disclosure and Transparency Rules by deciding not to carry out an impairment test for Rio Tinto Coal Mozambique as was required by International Accounting Standards, which would have shown that the loss of cheap transport options for coal had greatly reduced the value of the company and it would have been marked down in value in the half year report for 2012.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
mining and minerals
mining
GB0007188757
https://www.fca.org.uk/news/press-releases/rio-tinto-plc-fined-%C2%A327m-breaching-disclosure-and-transparency-rules
UK21-16730
Barclays Bank UK PLC and Barclays Bank PLC and Clydesdale Financial Services Ltd.
Barclays
Barclays
26056400
2020
20201215
consumer-protection-related offences
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Barclays paid a £26 million fine in settlement of a finding by the FCA that the company breached consumer credit regulations by failing to show forbearance and due consideration to business and retail loan customers in arrears or financial difficulties, affecting at least 1.5 million customers over several years.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0031348658
https://www.fca.org.uk/news/press-releases/fca-fines-barclays-treatment-customers-financial-difficulty
UK21-16696
Barclays Bank plc
Barclays
Barclays
26033500
2014
20140523
financial offences
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Barclays paid a £26 million fine in settlement of a finding by the FCA that the company failed to adequately manage conflicts of interest in relation to inappropriate conduct by a trader participating in options products dependent on the price of gold and also participating in the Gold Fixing, the market's price setting mechanism.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB0031348658
https://www.fca.org.uk/news/press-releases/barclays-fined-%C2%A326m-failings-surrounding-london-gold-fixing-and-former-barclays
UK21-16774
npower Limited et al.
E.ON
RWE AG
RWE split off Npower as part of Innogy later in 2016. E.ON acquired Innogy in 2019.
26000000
2016
20160127
consumer-protection-related offences
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npower Direct Ltd, npower Ltd, npower Northern Ltd, npower Northern Supply Ltd, npower Yorkshire Supply Ltd, npower Yorkshire Ltd and npower Gas Ltd paid a £1 fine each and a total of £25,999,993 towards compensation and charities in settlement of a finding by Ofgem that the companies failed to bill customers correctly and had inadequate customer service provision.
agency action
settlement with Ofgem
UK-OFGEM
Office of Gas and Electricity Markets
Germany
publicly traded
utilities and power generation
utilities
DE000ENAG999
https://www.ofgem.gov.uk/publications-and-updates/investigation-npower-s-compliance-standards-conduct-standard-licence-condition-25c-standard-licence-condition-27-provision-final-bills-and-gas-and-electricity-consumer-complaints-handling-standards-regulations-2008
UK21-51996
FP McCann Limited
FP McCann Limited
FP McCann Limited
25449676
2020
20201222
competition-related offences
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FP McCann was ordered to pay £25,449,676 plus £335,000 costs by the Competition Appeal Tribunal in judgment of a decision by the CMA that the company had engaged in price fixing and other anti-competitive conduct in the supply of certain pre-cast concrete drainage products in collusion with Stanton Bonna Concrete and CPM Group, who had already agreed to a settlement.
agency action
50299
UK-CMA
Competition and Markets Authority
United Kingdom
privately held
construction and engineering
precast concrete solutions
https://www.gov.uk/cma-cases/supply-of-precast-concrete-drainage-products-civil-investigation
UK21-178
Park First Limited et al.
25000000
2021
20210720
financial offences
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The FCA has secured a conditional agreement with the defendants in proceedings seeking compensation for approximately 4,500 investors in the failed Park First Scheme. The conditional agreement should see a further £25 million made available for compensation to investors.
agency action
UK-FCA
Financial Conduct Authority
https://www.fca.org.uk/news/press-releases/conditional-resolution-proceedings-park-first-and-senior-management
UK21-61357
HIG Group
H.I.G. Capital
H.I.G. Capital
25000000
2021
20210302
employment-related offences
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HIG agreed to pay £25 million to settle without liability allegations made by TPR that HIG contrived an unreasonable scheme to further its acquisition of the Silentnight company without Silentnight's employee pension scheme, leading to a loss of benefits to savers in the scheme, while without HIG's scheme to bring about an unnecessary insolvency the pension scheme would have continued successfully.
agency action
Settlement with TPA
UK-TPR
The Pensions Regulator
United States
privately held
private equity (including portfolio companies)
private equity (including portfolio companies)
https://www.thepensionsregulator.gov.uk/en/document-library/enforcement-activity/regulatory-intervention-reports/silentnight-group-db-scheme-regulatory-intervention-report
UK21-53338
Drax PowerLimited
Drax Group PLC
Drax Group PLC
25000000
2015
20150316
competition-related offences
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Drax agreed to pay a penalty of £5 million and £20 million consumer redress to National Energy Action (with the objective of promoting energy efficiency, alleviating fuel poverty, and reducing carbon emissions) in settlement of a finding by Ofgem that the compay failed to achieve its carbon emissions reduction obligations of promoting carbon reduction actions by domestic energy users in low income areas.
agency action
settlement with Ofgem
UK-OFGEM
Office of Gas and Electricity Markets
United Kingdom
publicly traded
utilities and power generation
power generation
GB00B1VNSX38
https://www.ofgem.gov.uk/publications-and-updates/notice-decision-impose-financial-penalty-following-investigation-compliance-drax-article-141-electricity-and-gas-community-energy-saving-programme-order-2009
UK21-52004
The Prudential Assurance Company Limited
M&G PLC
M&G PLC
23875000
2019
20190930
financial offences
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Prudential paid a £34 million fine (minus a 30% discount) in settlement of the FCA finding that the company failed to ensure fair and appropriate information was given to customers buying annuities.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
asset management
GB00BKFB1C65
https://www.fca.org.uk/news/press-releases/fca-fines-prudential-failures-relating-non-advised-annuities-sales
UK21-16708
KPMG LLP
KPMG
KPMG
23874365
2023
20231012
financial offences
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The Financial Reporting Council (“FRCâ€) issued two Final Settlement Decision Notices and imposed severe reprimands and fines against KPMG LLP, KPMG Audit Plc, and two former audit partners following the conclusion of their investigations into the audits of Carillion plc. KPMG LLP agreed to pay £18,550,000 plus costs of the investigation and KPMG Audit agreed to pay £2,450,000.
settlement of FRC Decision
UK-FRC
Financial Reporting Council
Netherlands
privately held
business services
accounting services
https://www.frc.org.uk/news-and-events/news/2023/10/sanctions-against-kpmg-llp-kpmg-audit-plc-and-two-former-partners/
UK21-97186
EP SHB Limited
23630000
2023
20231207
competition-related offences
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Ofgem imposed a £23.63 million fine on EP SHB after a finding that the company breached its generation licence in a way that unfairly raised consumers' bills, as a consequence of prices it submitted in the Balancing Mechanism during periods where ‘transmission constraint' occurred.
UK-OFGEM
Office of Gas and Electricity Markets
https://www.ofgem.gov.uk/publications/notice-penalty-ep-shb-limited
UK21-107232
Lighthouse Advisory Services Limited
23610000
2023
20230515
financial offences
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The Financial Conduct Authority found that Lighthouse had given unsuitable advice to people looking to transfer out of defined benefit pension schemes, including to members of the British Steel Pension Scheme. Lighthouse had cooperated with the FCA and proactively given £23 million in redress, so a censure from the FCA was considered the appropriate official outcome.
Cooperation and proactive redress
UK-FCA
Financial Conduct Authority
https://www.fca.org.uk/news/press-releases/fca-censures-lighthouse-advisory-services-limited-serious-failings-relation-british-steel-pension
UK21-91873
State Street Bank Europe Limited and State Street Global Markets International Limited
State Street Corp.
State Street Corp.
22885000
2014
20140130
financial offences
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State Street Bank Europe Limited and State Street Global Markets International Limited paid a £22.8 million fine in settlement of a finding by the FCA that they deliberately overcharged clients using Transaction Management services on their securities portfolios.
agency action
settlement of FCA Decision
UK-FCA
Financial Conduct Authority
United States
publicly traded
financial services
financial services
US8574771031
https://www.fca.org.uk/news/press-releases/state-street-uk-fined-%C2%A3229m-financial-conduct-authority-transitions-management
UK21-16781
GlaxoSmithKline plc and GlaxoSmithKline UK Ltd. and SmithKline Beecham Ltd. and Beecham Group plc
GlaxoSmithKline
GlaxoSmithKline
22000000
2016
20160212
competition-related offences
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GlaxoSmithKline plc was fined £37.6 million in a decision by the CMA that the company made agreements with Generics (UK) and Alpharma where GSK would pay the two companies to delay entering the UK market with a generic version of the drug paroxetine (allowing GSKs branded version Seroxat to dominate the market at a higher price) in breach of competition law. In 2021 the Competition Appeal Tribunal reduced the fine to £22 million.
agency action
UK-CMA
Competition and Markets Authority
United Kingdom
publicly traded
pharmaceuticals
pharmaceuticals
GB0009252882
https://www.gov.uk/cma-cases/investigation-into-agreements-in-the-pharmaceutical-sector
UK21-353
ICBC Standard Bank Plc
Industrial and Commercial Bank of China
Industrial and Commercial Bank of China
21730000
2015
20151130
competition-related offences
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The Serious Fraud Office's first application for a Deferred Prosecution Agreement was approved by Lord Justice Leveson at Southwark Crown Court, sitting at the Royal Courts of Justice. The counterparty to the DPA, Standard Bank Plc (now known as ICBC Standard Bank Plc), was the subject of an indictment alleging failure to prevent bribery contrary to section 7 of the Bribery Act 2010. This indictment, pursuant to DPA proceedings, was immediately suspended. As a result of the DPA, Standard Bank was to pay financial orders of US$25.2 million and was required to pay the Government of Tanzania a further US$7 million in compensation. The bank also agreed to pay the SFO's reasonable costs of £330,000 in relation to the investigation and subsequent resolution of the DPA.
agency action
deferred prosecution agreement
UK-SFO
Serious Fraud Office
China
publicly traded
financial services
banking
CNE1000003G1
https://www.sfo.gov.uk/2015/11/30/sfo-agrees-first-uk-dpa-with-standard-bank/
The U.S. dollar amounts in the penalty order are converted to pounds in the penalty amount above.
UK21-52470
100