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Violation Tracker UK Individual Case

Company: R. Raphael & Sons plc
Penalty: £1,112,152
Year: 2019
Date: 30 May, 2019
Offence Group: financial offences
Offence Type: risk management failure
Violation Description: The PRA found that during the Relevant Period the Firm contravened PRA Fundamental Rules 2, 5 and 6 of the PRA's Rulebook . This is because the Firm failed to appropriately and effectively: (1) manage its outsourcing risk; (2) instruct, oversee and monitor its outsourced service providers; and (3) manage, oversee and monitor its business continuity and disaster recovery arrangements.
Action Type: agency action
Agency: Prudential Regulation Authority
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