Names of offshore companies that appear in the Deutsche Bank mirror trading case

Gwrthodwyd y cais gan The Financial Conduct Authority.

Dear The Financial Conduct Authority,

On 30th January 2017, the FCA fined Deutsche Bank £163 million for serious anti-money laundering control failings. A number of overseas entities were implicated in the mirror trading scheme. What are the full, technical names of these overseas companies and entities?

Thanks very much in advance,

Yours faithfully,
Mr. J. Wrate

The Financial Conduct Authority

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Freedom of Information, The Financial Conduct Authority

1 Atodiad

Our Ref: FOI5107

 

 

Dear Mr Wrate

 

Freedom of Information: Right to know request

 

We refer to your request under the Freedom of Information Act 2000 (the
Act), dated 20 April 2017, for the following information:

 

“On 30th January 2017, the FCA fined Deutsche Bank £163 million for
serious anti-money laundering control failings. A number of overseas
entities were implicated in the mirror trading scheme. What are the full,
technical names of these overseas companies and entities?”

 

Your request has now been considered and we can confirm we hold the
information requested. However, we are unable to provide this information
to you, as this is “confidential information” within the meaning of the
Financial Services and Markets Act 2000 (FSMA) and is therefore exempt
from disclosure under section 44 (Prohibitions on disclosure) of the Act
for the reasons set out in Annex A.

 

 

Yours sincerely

 

 

Information Disclosure Team

[1]Description: Description: Description:
cid:image001.png@01D2A7C9.64DDD390

 

Your right to complain under the FoI Act

 

If you are unhappy with the decision made in relation to your request, you
have the right to request an internal review.  If you wish to exercise
this right you should contact us within three months of the date of this
response.

 

If you are not content with the outcome of the internal review, you also
have a right of appeal to the Information Commissioner at Information
Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9
5AF.  Telephone: 01625 545 700.  Website: [2]www.ico.org.uk

 

 

Annex A

 

 

·                General right of access to information held by public
authorities

 

Under section 1(1)(a) of the Act, any person making a request for
information to a public authority is entitled to be informed in writing by
the public authority whether it holds information of the description
specified in the request. If the public authority holds information of the
type specified in the request, the person requesting the information is
entitled under section 1(1)(b) to have the information communicated to
them.  The rights in section 1(1)(a) and (b) are, however, subject to a
number of exclusions and exemptions, including the following:

 

 

·                Section 44 (Prohibitions on disclosure)

 

Section 44 of the Act provides that information is absolutely exempt if
its disclosure (otherwise than under the Act) is prohibited by or under
any enactment.  Section 348 of FSMA restricts the FCA from disclosing
“confidential information” it has received except in certain limited
circumstances.

 

Confidential information for these purposes is non-anonymised information
which relates to the business or other affairs of any person and which was
received by the FCA for the purposes of, or in the discharge of, any of
its functions under FSMA and which is not in the public domain.

 

As set out in this letter, the information relating to the overseas
entities to which your question refers is “confidential information” for
the purposes of section 348 of FSMA, as the information was received by
the FCA in the course of an enforcement investigation and the name of
those overseas entities is not in the public domain. Disclosure of any
such confidential information in breach of section 348 of FSMA is a
criminal offence. As none of the limited circumstances in which s348 of
FSMA does permit disclosure applies here the FCA is prohibited from
disclosing this information to you and the exemption conferred by section
44 of the Act applies.

 

Section 44 confers an absolute exemption which means that, if it is
engaged, the Act does not require us to consider whether the public
interest in disclosing the information outweighs the public interest in
maintaining the exemption.

 

 

 

 

This communication and any attachments contain information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. Some
of our communications may contain confidential information which it could
be a criminal offence for you to disclose or use without authority. If you
have received this email in error please notify [email address]
immediately and delete the email from your computer. Further information
on the classification and handling of FCA information can be found on the
FCA website
(http://www.fca.org.uk/site-info/legal/fc...).

The FCA (or, if this email originates from the Payment Systems Regulator
Limited, the FCA on behalf of the Payment Systems Regulator Limited / the
Payment Systems Regulator Limited) reserves the right to monitor all email
communications for compliance with legal, regulatory and professional
standards.

This email is not intended to nor should it be taken to create any legal
relations or contractual relationships. This email has originated from the
Financial Conduct Authority (FCA), or the Payment Systems Regulator
Limited.

The Financial Conduct Authority (FCA) is registered as a limited company
in England and Wales No. 1920623. Registered office: 25 The North
Colonnade, Canary Wharf, London E14 5HS, United Kingdom

The Payment Systems Regulator Limited is registered as a limited company
in England and Wales No. 8970864. Registered office: 25 The North
Colonnade, Canary Wharf, London E14 5HS, United Kingdom

Switchboard 020 7066 1000

Web Site http://www.fca.org.uk (FCA); http://www.psr.org.uk (the Payment
Systems Regulator Limited)

References

Visible links
2. http://www.ico.org.uk/