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Foreign Exchange

FX news: Disgraced MLRO ran his own compliance business

Remember our old pal Sudipto Chattopadhyay? Alpari’s ex-MLRO who got smacked with a £14,000 fine by the FSA for letting a number of potentially dodgy clients slip through the net?

Then you’ll also remember that we were almost sympathetic, imagining him to be alone and overworked as he ploughed through thousands of accounts every week (Regulation – doing the job not ticking a box).

Well, we’re feeling less sympathetic now having been tipped off that Chattopadhyay runs a compliance advisory business on the side: Chatto & Co. This is a man who should surely know his anti-money laundering law inside and out. Or, perhaps we’re unfair and he really was just too busy, what with trying to hold down two jobs.

The twist in the tale for Chattopadhyay is that Mark Payne, his business partner at Chatto & Co, is now Alpari’s new MLRO.

The FSA register has the details.

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