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Violation Tracker UK Individual Case

Company: Besso Limited
Current Parent CompanyArdonagh Group
Parent at the Time of the Penalty Announcement: Besso Group
Recap of Ownership Changes: Besso was acquired by BGC Partners in 2017. It was then sold to Ardonagh Group in 2021.
Penalty: £315,000
Year: 2014
Date: 17 March, 2014
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Besso paid a £315,000 fine in settlement of a finding by the FCA that the company failed to have adequate systems and controls to counter bribery and corruption risks in its general insurance broker business.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: privately held
Major Industry of Parent: financial services
Specific Industry of Parent: insurance
Source of Data(click here)