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Thursday, 21 July 2011

already has 30% discount! guess no"buy 1 get 1 free!" FSA fines insurance broker £6.9m for anti-corruption failings - New Model Adviser® -Citywire

FSA fines insurance broker £6.9m for anti-corruption failings - New Model Adviser® Edition - Citywire:

Here is Brendan McManus, CEO Willis ltd.'s response.

It is a very competition world.. but sometimes one still need to strike balance between profit/growth vis ethics..

challenge is when it gets to a grey area.. where if a certain country that is the ONLY way of business, what does one do then??

It would be great if all countries/busiensses all play to the same rule.. sadly however, it is never easy nor would people play ball..

tough one this.



"The fine is the biggest imposed by the FSA in relation to financial crime systems and controls. It would have been £9.85 million but Willis qualified for a 30% discount as it agreed to settle with the FSA at an early stage."

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