Home / Business and Economy / UK Watchdog Censors CACEIS UK for Wealth Client Exposure
UK Watchdog Censors CACEIS UK for Wealth Client Exposure
25 Jun
Summary
- CACEIS UK to pay £31.7 million to WealthTek clients.
- Watchdog censures CACEIS for failing to act on risks.
- Clients were left exposed to financial crime risks.
The UK's financial watchdog has announced it will censure CACEIS UK.
The asset servicing bank will pay £31.7 million to clients of the collapsed WealthTek.
This action follows CACEIS UK's failure to act on crucial information.
This oversight left clients exposed to significant financial crime risks.
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