On 18 September 2014, the FRC published its final Guidance on Risk Management and Internal Control and Related Financial and Business Reporting (following a consultation which was published on 08 November 2013). This new guidance replaces the Turnbull Guidance (Internal Control: Revised Guidance on the Combined Code issued in 2005) and the FRC’s guidance on […]

The Australian Prudential Regulation Authority (APRA) has issued an aid for directors of authorised deposit-taking institutions (ADIs), general insurers and life companies with an accompanying cover letter. The aid and cover letter are designed to assist directors’ understanding of the additional responsibilities and duties that come with being part of the board of an APRA-regulated […]

The Joint Money Laundering Steering Group (JMLSG) has received approval from HM Treasury (HMT) for its guidance on money services businesses   In the final approval process minor changes were made to the guidance. Copies of the approved guidance:  http://bit.ly/1rAKHxp press release:  http://bit.ly/1rAKHxp

The FCA has published guidance to support firms seeking to provide simplified advice or sales without a recommendation. The guidance, which incorporates and replaces previous guidance, has been issued following ongoing FCA policy work and a thematic review into the growth of new advice models, including simplified advice.  In particular, the FCA provides advice for […]

Just prior to the three year anniversary of the UK Bribery Act (“Bribery Act”), the UK division of Transparency International (“TI”), a leading non-governmental anti-corruption organisation, released new guidance for companies setting out “principles and good practice” for dealing with requests for small bribes, including facilitation payments (also known as “speed” or “grease” payments). Dealing […]

Transparency International has published new guidance for companies on countering small bribes. The guidance looks at: information on creating a supportive corporate culture; the risks of small bribes; implementing a programme to counter small bribes including: training employees, internal accounting controls, preparing for managing incidents and monitoring and evaluating; principles for countering small bribes; case […]

The Guernsey Financial Crime Supervision & Policy Division has prepared and issued a Guidance Note (“Note”) following analysis of both the results of onsite visits undertaken by the Commission since 2012 and trends identified from financial crime assessments undertaken at local and international level. This Note is intended to further assist businesses in understanding the […]

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 […]