Arian Financial LLP

The FCA found that Arian Financial LLP failed to have effective anti‑financial‑crime systems and controls between 29 January 2015 and 29 September 2015, putting the firm at risk of being used to support fraudulent trading and money‑laundering for clients of four authorised entities (the Solo Group). The FCA imposed a financial penalty but Arian admitted liability and referred the proposed fine to the Upper Tribunal; the Tribunal decided on 11 November 2024 to reduce the FCA’s penalty from £744,745 to £288,962.52, and the FCA’s Final Notice took effect on 9 January 2025. (Principle 2 requires firms to conduct business with due skill, care and diligence; Principle 3 requires firms to take reasonable care to organise and control their affairs with adequate risk management and systems.)