Nationwide's £44m AML fine signals FCA's hard line stance
Law360, analysis: The Financial Conduct Authority (FCA)'s fine of £44m imposed on Nationwide Building Society for failings in anti-money laundering (AML) controls has sent a warning to Britain's largest financial institutions that size and reputation are no protection from the rules, lawyers have said. The case has drawn commentary from several prominent law firms in the financial services sector, including Charles Russell Speechlys, Fladgate LLP, Gunnercooke LLP, Kennedys Law LLP, and Peters & Peters Solicitors, reflecting the significant attention this enforcement action has garnered within the legal community.