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Simmons & Simmons in association with TMI Associates

23RD FLOOR, ROPPONGI HILLS MORI TOWER, 6-10-1 ROPPONGI, MINATO-KU, TOKYO 106-6123, JAPAN

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Legal Developments by:
Simmons & Simmons LLP

  • Failure to counter financial crime: Norwich Union Life

    In December 2007, the Financial Services Authority (FSA) imposed a fine of £1.26m on Norwich Union Life (part of the Aviva Group), one of the largest life insurance businesses in the UK with around seven million customers. The fine related to failures to take reasonable care to establish and maintain effective systems and controls for countering the risks of financial crime. The fine is the latest confirmation of the emphasis being placed on protecting clients and customers from the threat of financial crime.
    - Simmons & Simmons

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