Laying down the law

Regulated firms should take note: the FSA has just levied its highest-ever fine for financial crime. Chris Warren-Smith, Jehan-Philippe Wood and Ian Pegram discuss the lessons other institutions should learn from the regulator's action against Aon

The UK Financial Services Authority's (FSA) decision in January 2009 to fine Aon for failures in the systems and controls in place at the insurance broking giant provides a number of important lessons for the financial services sector. The FSA found that these failures led to Aon not detecting certain suspicious payments to overseas third parties. The size of the fine, £5.25 million, is the largest FSA fine to date for systems and controls breaches relating to financial crime offences, and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here