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Financial institutions in the United Kingdom reported having collectively rejected relationships with more than one million potential clients and severed ties with 370,000 existing clients in a recent 12-month period over financial crime concerns, a senior regulator disclosed Tuesday. In addition to de-risking hundreds of thousands of customers, financial institutions sent more than 2,100 terrorism-related reports to the National Crime Agency, or NCA, while employees “at all levels” filed more than 920,000 internal suspicious activity reports, or SARs, Megan Butler, an executive director with the U.K. Financial Conduct Authority, or FCA, said. “No one is pretending that financial services aren’t...