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FCA imposes £2.5M fine on Bastion Capital London Limited for financial control failings

The FCA has fined Bastion Capital London Limited (in liquidation) £2,452,700 for serious financial crime control failings.

The FCA has imposed a £2 million fine on The TJM Partnership Limited for financial crime control failings in relation to cum-ex trading.

The FCA imposes a £642,400 fine on Sunrise Brokers LLP for serious financial crime control failings in relation to cum-ex trading.

This is the first FCA case in relation to cum/ex trading, dividend arbitrage and withholding tax (WHT) reclaim schemes.