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Arian Financial fined almost GBP290,000 in UK over inadequate financial-crime controls

( January 10, 2025, 11:00 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority has fined Arian Financial LLP just under 290,000 pounds (around $355,000), for failing to ensure it had effective systems and controls against financial crime. The FCA said that Arian had conducted cum-ex trading, meaning that it placed shares in alternative tax jurisdictions around dividend dates, with the aim of minimizing withholding tax or generating withholding tax reclaims....

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