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Abbey fined £2.32m by FSA

Abbey National companies have been fined £2.32m by the FSA for serious compliance failings.

Abbey National plc was fined £2m for breaches of the FSA&#39s money laundering rules, while Abbey National Asset Managers Limited was fined £320,000 for systems and controls breaches.

The FSA says both cases reflect wider control failings including inadequate monitoring of key regulatory risks over a prolonged period of time.

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