01 · In plain English
What happened.
On 27 October 2024 the Financial Conduct Authority fined Kristo Käärmann £350,000. The FCA’s Final Notice records a breach of COCON 2.2.4R SC4 – a failure to disclose appropriately information to the regulator. Rule SC4 requires senior conduct‑rules staff to promptly tell the FCA information it would be reasonable to assume is of material significance. The FCA imposed a financial penalty and published a Final Notice setting out the decision.
Summarised from the FCA's notice and press reports. The FCA's own text and documents below are the authoritative record.
02 · Enforcement details
What the FCA published.
On 27 October 2024, the Financial Conduct Authority fined Kristo Käärmann £350,000. This Final Notice refers to a breach of COCON 2.2.4R SC4, related to Kristo Käärmann’s failure to disclose appropriately information to the Authority. We imposed a financial penalty. Source: the FCA's published list of 2024 fines.
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