UPDATE 1-ADM Investor Services fined for anti-money laundering failures

Britain's Financial Conduct Authority (FCA) said on Monday it had fined commodities services broker ADM Investor Services International Limited 6.47 million pounds ($7.88 million) for "inadequate" anti-money laundering systems and controls. The FCA said the nature of the company's business and client base presented potentially high levels of money laundering risk because of its global spread of activities and clients that included higher risk so-called politically exposed persons. The watchdog said it raised concerns at ADM in 2014, but there were still significant failings when it visited the company two years later when it found no firm-wide money laundering risk assessment, and policies referring to repealed legislation.