High Risk Corporate and Counterparty KYC Remediation for a Global Inter-dealer Broker

Following a visit from the regulator, a global inter-dealer broker was put under a Section 166 order.

Division

Operations & Resourcing

Industry

Corporate, Wholesale and Investment Banking

Service-line

KYC Remediation

Download Case Study

The Client

A global inter-dealer broker

The Challenge

Following a visit from the regulator the firm was put under a Section 166 order due to concerns across their Governance Risk and Compliance capabilities

The Solution

Lysis worked with the Group Board to structure and run a major GRC remediation programme of c.60 projects:

One project was AML remediation ofHigh Risk institutional customer and market counterparty cases.
Lysis deployed a small and highly experienced team for this work.
The service included determining ownership and then remediation of all KYC and due diligence records, screening for sanctions, Politically Exposed Persons (PEP’s) and adverse media and enhanced due diligence as needed.
Lysis managed the pipeline and volume/throughput.
Detailed Management Information(MI) and progress reporting were provided on a regular basis.

Results

Other Case Studies

Browse Case Studies

Consulting & Advisory

Crypto Asset Support by providing a Money Laundering Reporting Officer (MLRO)

Crypto & Digital Assets

A crypto asset custodian based in the U.K. with global reach approached Lysis with the request to assist them with the process to obtain registration from the FCA which would enable them to operate in the UK market as a crypto asset business. Due to the holding company’s strong global footprint, part of the FCA requirements for registration included the need for a UK based money laundering reporting officer (MLRO).

Read case study