FCA Prohibits Former Credit Suisse Bankers Amid Mozambique ‘Tuna…

The FCA has banned two former Credit Suisse bankers, Andrew Pearse and Surjan Singh, for their roles in taking bribes to facilitate corrupt loans in Mozambique. Pearse accepted over $45 million, while Singh took $5.7 million in illicit payments. Both have been barred from the UK financial services sector due to their lack of integrity.

The UK’s Financial Conduct Authority (FCA) has prohibited two former Credit Suisse bankers from engaging in UK financial services following their convictions related to corruption in Mozambique. Andrew Pearse, who admitted to receiving over $45 million in illicit kickbacks, was banned for demonstrating a lack of integrity. Similarly, Surjan Singh, who received $5.7 million in corrupt payments, has also been barred from the industry. These actions reflect the FCA’s commitment to upholding ethical standards within the financial sector.

The FCA’s actions against Andrew Pearse and Surjan Singh underline the regulatory body’s determination to maintain integrity within the financial industry. The significant sums involved highlight the seriousness of the offenses pertaining to the Mozambique ‘tuna bonds’ scandal and serve as a reminder of the consequences of unethical conduct in finance.

Original Source: www.amlintelligence.com