NU Online News Service, July 22, 2:43 p.m. EDT
The Financial Services Authority (FSA) has fined a subsidiary of Willis Group Holdings more than $11 million for failure to institute proper controls in its anti-bribery and corruption systems.
Great Britain's financial-services regulator says it issued the large fine, £6.9 million ($11.3 million), to Willis Ltd. for creating an "unacceptable risk that payments…to overseas third parties could be used for corrupt purposes."
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