Tag Archives: FSA

Turned out fine again

Posted on November 29, 2017 by Susan Grossey author

The UK Chancellor’s budget is rarely a cause for much celebration, while the obligatory leaks in the days beforehand suck every element of surprise out of his announcements, but one little gem might have passed you by on 22 November … Continue reading →

Posted in AML, Supervision | Tagged budget, FCA, Financial Conduct Authority, FSA, HM Treasury, LIBOR | 3 Comments

Just fancy window-dressing?

Posted on April 12, 2013 by Susan Grossey author

In a training session today, someone asked me a question that I have not been asked before – I do love it when that happens. (And before you rush off to your “Big Book of Fiendishly Difficult University Challenge Physics … Continue reading →

Posted in AML, Money laundering | Tagged AML, due diligence, financial crime, FSA, government, HM Treasury, legislation, ML Regulations, money laundering, proceeds of crime | 2 Comments

Tender is the process

Posted on October 24, 2012 by Susan Grossey author

As a one-person business (and proud of it – except when it comes to a rather lonely Christmas party), I rarely get involved in tendering (tenderising?). Usually someone contacts me, says “Can you do our training?”, and I say “Oh, … Continue reading →

Posted in Due diligence, Money laundering | Tagged AML, communication, disclosure, due diligence, financial crime, FSA, money laundering, proceeds of crime | Leave a comment

The FSA’s duck shoot

Posted on August 3, 2012 by Susan Grossey author

When I prepare a new training session, I always try to include a recent case study. Money laundering stories are easy to find; naughty people are forever committing crimes and then shifting the proceeds around. On the other hand, anti-money … Continue reading →

Posted in AML, Money laundering, Regulation | Tagged AML, due diligence, financial crime, FSA, legislation, ML Regulations, MLRO | 5 Comments

That blind eye had better be really blind

Posted on June 29, 2012 by Susan Grossey author

For various reasons (obesession, mainly) I’ve just been reading the FSA’s Notices on Habib Bank and its MLRO Syed Itrat Hussain. In case you missed it, on 4 May 2012 the FSA fined the bank £525,000 and the MLRO £17,500 … Continue reading →

Posted in AML, Money laundering | Tagged AML, due diligence, FSA, ML Regulations, MLRO, PEP | 3 Comments

Investment banks don’t yet know their ABC

Posted on March 30, 2012 by Susan Grossey author

One of the most important lessons in life is how to prioritise things – how to spend your limited time, energy, money and other resources on the things that matter. It’s the bedrock of the risk-based approach beloved (-ish) of … Continue reading →

Posted in Bribery and corruption, Legislation | Tagged bribery, communication, corruption, due diligence, financial crime, FSA, government, MLRO, proceeds of crime, training, white collar crime | Leave a comment

PEPs cost Coutts dear

Posted on March 28, 2012 by Susan Grossey author

In its largest-ever financial penalty levied for AML failings, the FSA has fined Coutts & Co £8,750,000 for AML failings. The full FSA notice is here, and it makes depressing reading – one might have hoped that the banker to … Continue reading →

Posted in Due diligence, Money laundering | Tagged AML, due diligence, FSA, ML Regulations, MLRO, money laundering, PEP | 3 Comments

Girl guidance

Posted on September 28, 2011 by Susan Grossey author

You know how there are some words you find yourself saying dozens of times a day – diligence, laundering, chocolate. Well, one I use more than most is “guidance”. I must have said it a hundred times yesterday, when I … Continue reading →

Posted in Legislation, Regulation, Supervision | Tagged AML, FSA, guidance, legislation, ML Regulations, money laundering, training | Leave a comment

Sure, you can pat him

Posted on July 22, 2011 by Susan Grossey author

You know your neighbour with that enormous dog, the one that snoozes quietly in the garden most of the time, but you’re warned not to turn your back on him “because he’s a bit unpredictable”? Well, that’s the FSA. They … Continue reading →