2021 fines

This page contains information about fines published during the calendar year ending 2021. The total amount of fines so far is £567,765,219.95 (National Westminster Bank Plc’s fine is included for completeness however this fine was levied by the Court following the FCA’s successful criminal prosecution of the Bank).

Firm or individual fined Date Amount Reasoning
HSBC Bank plc 17/12/2021 £63,946,800 This Decision Notice refers to breaches of the Money Laundering Regulations 2007 related to financial crime in the Retail bank sector. A financial penalty has been imposed.
National Westminster Bank Plc 13/12/2021 £264,772,619.95

For 3 offences of failing to comply with the Money Laundering Regulations 2007. Note: This is not a fine that will appear in the FCA’s statutory accounts as it is not levied by, or paid to, the FCA.

Sunrise Brokers LLP 12/11/2021 £642,400 This Final Notice refers to breaches of PRIN 2 and PRIN 3 related to the risk of financial crime in the trading firms sector. We imposed a financial penalty.
Credit Suisse International, Credit Suisse Securities (Europe) Ltd, and Credit Suisse AG 19/10/2021 £147,190,200 This Final Notice refers to breaches of Prin 2 and Prin 3 related to financial crime and anti-bribery and corruption failings in the investment banking sector. We imposed a financial penalty.
Omar Hussein 11/10/2021 £116,000 The Final Notice refers to breaches of Statements of Principle for Approved Persons 1 and 7. We imposed a prohibition and fine.
Lloyds Bank General Insurance Limited, St Andrew’s Insurance Plc, Lloyds Bank Insurance Services Limited and Halifax General Insurance Services Limited 08/07/2021 £90,688,400 This Final Notice refers to breaches of PRIN 3 and PRIN 7 related to communications with customers in the general insurance and protection sector. We imposed a fine.
Crosfill and Archer Claims Limited 28/06/2021 £110,000 This Final Notice refers to breaches of breach of the Conduct of Authorised Persons Rules 2014 (“CAPR”) related to unfair treatment of customers in the claims management sector. We imposed a fine.
Sapien Capital Limited 06/05/2021 £178,000 This Final Notice refers to breaches of PRIN 2 and PRIN 3 related to the risk of financial crime in the trading firms sector. We imposed a Fine. 
Simon John Varley 15/04/2021 £68,300 This Final Notice refers to Section 63A FSMA and breaches relating to APER 1 and FIT relating to a lack of honesty and integrity in the investment advisory sector. We imposed a fine and a prohibition.
Adrian Horn 04/03/2021  £52,500  The Final Notice refers to breaches of MAR and FIT relating to Market Abuse in the Trading Firm sector. We imposed a Fine and Prohibition.