Jason Mansell
Kathryn Hughes Zoe Johnson QC and Tom Broomfield represented the Financial Conduct Authority in the prosecution...
Jason Mansell and Kathryn Hughes (instructed by Greg Brandman at Eversheds Sutherland International LLP) acted for Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer of Sonali Bank (UK) Limited (SBUK) in FCA proceedings before the Upper Tribunal.
Mr Prodhan was alleged by the FCA to have acted without due skill, care and diligence and for being knowingly concerned in a breach by SBUK of its obligations to maintain effective anti-money laundering (AML) systems. Mr Prodhan‘s case was related to Final Notices issued on 16 October 2016 where SBUK was fined and its former MLRO was fined and banned in respect of similar matters to which the FCA also sought to make Mr Prodhan accountable.
Mr Prodhan referred the matter to the Upper Tribunal in 2018 and fully intended to contest the matter at a 4-week hearing that was listed for January 2023. However, in November 2022 the FCA agreed to amend the proposed sanction sought to one of public censure. Given Mr Prodhan’s changed personal circumstances, he applied to the Tribunal to withdraw his reference and the Tribunal granted his request. A Final Notice publicly censuring Mr Prodhan was then issued by the FCA on 18 November 2022.
You can read the FCA's press release here.