The Italian government has announced a series of measures to crack down on corruption. They come as a report from the state auditor shows that cases of corruption in Italy have increased by more than 200% since 2008. Duncan Kennedy reports. http://news.bbc.co.uk/1/hi/world/europe/8527593.stm

Change of control of Kleinwort Benson receives FSA and GFSC approval – Kleinwort Benson today announces that RHJ International SA has received approval from the Financial Services Authority to become the controller of the private bank. This is a major landmark in the organisation’s sale process as RHJ International SA prepares to take ownership of […]

Peter Eigen: How to expose the corrupt – About this talk – Some of the world’s most baffling social problems, says Peter Eigen, can be traced to systematic, pervasive government corruption, hand-in-glove with global companies. At TEDxBerlin, Eigen describes the thrilling counter-attack led by his organization Transparency International. – http://www.ted.com/talks/peter_eigen_how_to_expose_the_corrupt.html

The Financial Services Authority have recently fined Aon Ltd a total of £5.25m for failing to have effective systems and controls in place to counter the risks of bribery and corruption. This fine must surely sound warning bells not just to the insurance industry but to all firms who use the services of overseas contacts […]

Review of firms’ implementation of a risk-based approach to anti-money laundering (AML) – March 2008 – http://www.fsa.gov.uk/pubs/other/jmlsg_guidance.pdf

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An IFA is taking the FSA to task over the costs of regulation after calculating the percentage of his firm’s hourly rate that goes to the FSA. Sam Caunt, partner at Northampton-based IFA Kingston PTM, says at least £20 of his company’s average £150 per hour rate is due to FSA regulation and to plan […]

The immediate £6 billion cut in public spending proposed by the new Government won key support yesterday when the Governor of the Bank of England overcame his usual reluctance to discuss fiscal policy and gave it his enthusiastic blessing. Mervyn King said the coalition’s deficit reduction plan was strong and powerful and that plans for […]