The FCA has published two thematic reviews: Managing bribery and corruption risk in commercial insurance broking; and How small banks manage money laundering and sanctions risks, following earlier reviews in 2010 and 2011. The purpose of the reviews is to establish how small firms manage financial crime. The FCA reviewed ten commercial insurance intermediaries and […]

Clive Adamson, Director of Supervision, FCA, has given a speech at the Insurance Institute of London entitled “Trust and confidence – ensuring firms’ ethics are built around their customers”. In his speech Mr Adamson outlined the need for the FCA to work with the insurance industry to enhance public trust in the sector and the […]

The FCA has published consultation guidance (GC13/3) on its thematic review, “Banks’ control of financial crime risks in trade finance” The guidance includes, amongst others, examples of good and poor practice in: • risk assessment; • policies and procedures; and • training and awareness. The deadline for comments is 4 October 2013. Copies of http://www.fca.org.uk/static/documents/guidance-consultations/gc13-03.pdf http://www.fca.org.uk/static/documents/thematic-reviews/tr-13-03.pdf webpage http://www.fca.org.uk/news/guidance-consultations/gc13-03

The FCA has published a report based on a thematic review on “Banks’ control of financial crime risks in trade finance”. This report sets out the FCA’s recent thematic review and describes how banks in the UK control money laundering, terrorist financing and sanctions risks in trade finance business. Following the thematic review the FCA’s […]