FCA fines Sunrise Brokers LLP £642,400 for Serious Financial Crime Control Failings Concerning Cum-ex Trading

On 12th November, the FCA reported a fine of over £600,000 to Sunrise Brokers LLP for deficient anti-money laundering systems and controls.

This is the second case brought by the FCA concerning cum-ex trading, dividend arbitrage, and withholding tax (WHT) reclaim schemes. The first FCA case relating to cum-ex trading concluded in May 2021. Acco...

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