Financial Crime Update

The FSA has published its latest Financial Crime Newsletter (issue 16).

There is not much that is new inside e.g. it mentions the March 2012 report on findings on anti-bribery and corruption (ABC) systems and controls in investment banks (there is a link to the paper in Regulatory Roundup 39). However at the end of the Newsletter there is a warning that the next round of thematic reviews will cover AML and ABC systems and controls in asset management firms with a report expected to be published by Q3 2013.

In the light of this, Compliance officers at asset management firms will probably want to ensure that a review of their firm’s ABC and AML systems and controls features highly on their ‘things to do’ list.