Financial Crime

Market Abuse Guidance

The FSA is proposing to amend some of its guidance in MAR 1.4 (improper disclosure) to reflect feedback received from the industry. In Market Watch 35 of last year the […] [...]

Regulatory Roundup 31 included an article on FSA guidance on financial crime which had been published in the form of a consultation paper (CP11/12). The final guidance (PS11/15) has now […] [...]

Market Abuse Changes

The EU has been churning out the work; in addition to the proposed changes to MiFID (see previous article) they have also issued proposed changes to the Market Abuse Directive […] [...]

Financial Crime Guide

In May 2010 the FSA published ‘The Small Firms Financial Crime Review’ (see Regulatory Roundup 15 for our comments and a link to the document) which covered the three main […] [...]

Money Laundering Review

HM Treasury has published a consultation on changes to the Money Laundering Regulations 2007 (MLR2007) by way of a response to a review carried out last year. The Government committed […] [...]

Money Laundering & Overseas Jurisdictions

FATF has updated its list of jurisdictions which have strategic AML/CTF deficiencies (see Regulatory Roundup 23 for details of previous position) as well as updating its Public Statement on Iran […] [...]

Bribery Act Guidance

The Ministry of Justice has released its long awaited ‘guidance’ in respect of the Bribery Act 2010 (‘BA2010’). As you will be aware from Regulatory Roundup 26, it will be […] [...]

Middle East Events

Following the recent developments in the Middle East the FSA has issued a short statement on the need for firms to be alert to the possible impact the events may […] [...]

Code of Market Conduct Change

As will be known, the FSA’s Code of Market Conduct is incorporated within MAR 1. Following a decision by the European Court of Justice (ECJ) in the Spector case (see […] [...]

Bribery Act Delay

And talking of delays, there have been various reports in the press of a delay to the Bribery Act 2010 (‘BA2010’) coming into force (although there is currently no official […] [...]

JMLSG III

The final version of the JMLSG Guidance Part III has been issued. The consultation version was published in May with the consultation period ending 9 July (see Regulatory Roundup 14 […] [...]

FATF Update

As many will be aware, The Financial Action Task Force (FATF) – which is the global standard setting body for anti-money laundering and combating the financing of terrorism – has […] [...]

FSA Briefing

The FSA held a Wholesale Small Firms’ briefing aimed at Investment Managers and Private Equity firms on 21 September. The briefing included a session on the Remuneration Code with the […] [...]

Leaking

Market Watch No 37 is devoted entirely to leaks of inside information – specifically to the media – and the need for firms to ensure sound prevention controls are in […] [...]

Ministry of Justice Anti-Bribery Consultation

As covered in Regulatory Roundup 17 the offences under the Bribery Act 2010 will become enforceable from April 2011. Firms will be aware that there will be a defence for […] [...]

Fuzzy matching and financial sanctions

The big fine imposed on Royal Bank of Scotland (£5.6m) by the FSA for breaches of Money Laundering Regulations 2007 hit the headlines earlier this week. Apart from issues with […] [...]

Unofficial guidance on the Bribery Act

Following on from Regulatory Roundup #13 which covered the Bribery Act, the Government has recently released a press statement about the delay in the publication of guidance on the Bribery […] [...]

Father and Son

Father and son Jeffery and Jeremy Burley have been handed out financial penalties by the FSA for market abuse. Whilst people tend to co-operate with the FSA during an investigation […] [...]

Financial Crime Newsletter

The FSA has published its first Financial Crime Newsletter of the year, and the first since Margaret Cole took over responsibility for this area following the retirement of Philip Robinson. […] [...]

Oil futures and alcohol

An unusual Final Notice relating to Stephen Perkins was published on the FSA website. Mr Perkins, a (now ex) oil futures broker was fined £72K by the FSA and prohibited […] [...]

Tag: Financial Crime