Tag Archives: Financial Conduct Authority

A state of grace

Someone asked me recently about grace.  Not the spiritual kind, or indeed the physical – if there is a loose paving stone within a hundred yards, I will trip over it.  No, what they were concerned about is the period … Continue reading

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The slippery slope of blame

Last weekend we were at a local garden centre – they do lovely cakes – and outside the café they had set up a mock garden.  In it was a children’s slide, with a sign propped up on its steps: … Continue reading

Posted in AML, Money laundering, Publications | Tagged , , , , , , , | 3 Comments

Me first, no, me first

And so the battle to appear whiter than white begins – and not before time.  As British politicians fall over themselves to publish their tax returns, the UK government has announced the launch of a new taskforce to investigate the … Continue reading

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Susan versus the Machine

Last week, while on holiday in Suffolk, I visited Southwold Pier.  One of the attractions there is a room of novelty machines – a mechanical dog that you can walk, an armchair for taking a three-minute holiday, a “bash the … Continue reading

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Dire warnings

They say that if you can’t be a good example, then aim to be a dire warning instead.  And this is always the spirit in which I have read reports of “findings” – the more palatable term for regulatory punishments.  … Continue reading

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Muzzle those compliance watchdogs

I went on a Grand Day Out to London last week, and on my way home avoided catching up with emails by reading the (now free) Evening Standard.  My eye was caught, of course, by a story about compliance, because … Continue reading

Posted in AML, Due diligence, Uncategorized | Tagged , , , , , , , | 4 Comments

A regime of responsibilities

On 7 July, the Financial Conduct Authority issued its final rules on the Senior Managers Regime (I long to put an apostrophe in there, but the regulator has decreed it apostrophe-free, and I’m nothing if not obedient to regulatory decree) … Continue reading

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And definitely do not collect £200

So now we have a date: the UK’s new Senior Managers’ Regime will come into force by 7 March 2016.  It is part of an attempt to strengthen accountability in banking (no need to explain why this might be necessary) … Continue reading

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Wonky perceptions of risk

I’ve been mulling, as you do, and I’m a bit concerned about the Corruption Perceptions Index published annually by Transparency International.  It is a fine index, to be sure, and one I consult regularly myself, but it’s not the answer … Continue reading

Posted in AML, Bribery and corruption, Due diligence | Tagged , , , , , , , | 2 Comments

The FCA rows into high risk waters again

An eagle-eyed reader in Guernsey (thanks, Guy) was perusing the FCA’s recent Final Notice on the Bank of Beirut, and spotted this in paragraph 2.8: “The [FCA] therefore imposes on Bank of Beirut: (1) [a fine]; and (2) a restriction … Continue reading

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