Following an earlier consultation the FCA has amended its guidance on good and poor practice relating to banks’ control of financial crime risks in trade finance, as contained in “Financial crime: a guide for firms”.
The amendments are effective from 12 June 2014.

In addition the FCA has published a summary of feedback to the consultation (FG14/5 – summary of feedback).
Whilst many respondents found the FCA’s examples of good and poor practice useful, some expressed concerns that these were too prescriptive and that this was disproportionate and incompatible with the FCA’s risk-based approach.
The amendments to the FCA’s guidance are designed to address these concerns.

Copies of
FG14/5; http://www.fca.org.uk/static/documents/finalised-guidance/fg14-05.pdf
press release; http://www.fca.org.uk/news/fg14-05
the Financial Crime Guide (Amendment No 2) Instrument 2014 http://media.fshandbook.info/Legislation/2014/FCA_2014_34.pdf