WHEN it comes to money laundering and establishing shell companies, it’s the big boys on the block who lay down the rules while they provide the most fertile ground for big time operators seeking to hide  earnings from crime, drugs and corruption. The message came through clearly at the STEP (Society of Trust and Estate […]

An address by Avinash Persaud 1.  I would like to begin with a short story of what happened in another industry not such a long time ago with a number of parallels for our topic today. 2.  On October, 16th, 2002, six years before the collapse of Lehman Brothers, an article appeared in the Financial […]

This is the speech of Ms Clairette Ah-Hen, Chief Executive of the Financial Services Commission at the presentation by Mr Stephen Platt on The Criminal Vulnerabilities of International Financial Centres. It was delivered on 21st November 2013. Those also present were: Mr Marc Hein, Chairperson of FSC Mr Dev Bikoo, Director FIU Mr Stephen Platt […]

Martin Wheatley, Chief Executive, FCA, and David Lawton, Director of Markets, FCA, both delivered keynote speeches at the 2013 FCA markets conference. Mr Wheatley surveyed the new global regulatory landscape and how it has changed in recent history, emphasising its global nature and tightened regulatory standards. Mr Wheatley noted that, with work on addressing market […]

Clive Adamson, Director of Supervision, FCA, has given a speech entitled “Ensuring the UK remains open for business – requirements for foreign-owned firms” at the Association of Foreign Banks. Mr Adamson’s speech covered the following topics: • what conduct regulation means for firms; • how the FCA is supporting evolving business models; • the role of senior management; […]

Steven Maijoor, Chair, European Securities and Markets Authority (ESMA), has given a speech at the EFAMA Investment Management Forum on the past achievements and future focus of ESMA. While ESMA’s focus in the past had been the single rulebook, its priorities are now changing and becoming more balanced, with direct supervision and supervisory convergence making […]

Martin Wheatley, Chief Executive, FCA, has given a speech at the Association of British Insurers Biennial Conference discussing the creation of the FCA and his vision for successful regulation.

The Financial Conduct Authority has warned British banks that they are not doing enough to protect themselves from being used for criminal activities and could be fined if they fail to raise their game. Some banks may face punishment for failure to spot abuses in their trade finance business, such as money laundering, sanctions busting […]