- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-08-29T12:39:00
The United Kingdom’s set of proposals to beef up anti-money laundering (AML) controls has received mixed reception from experts.
The Treasury released its consultation on the reform of its AML and countering the financing of terrorism (CFT) supervisory regime on June 30 following criticism from bodies including the Financial Action Task Force that the U.K.’s approach to oversight and monitoring was vulnerable and ineffective.
Currently, AML/CFT supervision in the United Kingdom is carried out by three statutory regulators—the Financial Conduct Authority (FCA); HMRC, the country’s tax watchdog; and the Gambling Commission—and 22 professional bodies representing accountancy and law firms.
2023-09-12T15:00:00Z By Neil Hodge
The former CEO of NatWest’s decision to leak client details to the press regarding Nigel Farage is likely to cost the financial industry millions in new compliance checks as U.K. regulators prepare reviews into how banks treat people with extreme political views.
2023-09-05T15:23:00Z By Kyle Brasseur
The Financial Conduct Authority announced the scope of its review into the treatment of U.K.-based politically exposed persons, the latest development in response to the Nigel Farage “debanking” scandal.
2023-08-31T14:05:00Z By Neil Hodge
Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
2025-07-03T15:51:00Z By Ruth Prickett
The EU’s new strategy aims to boost SME growth and cut market barriers, but businesses doubt reforms will happen, and consumer groups fear weaker data protections.
2025-06-26T20:22:00Z By Oscar Gonzalez
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
2025-06-24T17:21:00Z By Ruth Prickett
Four years after Brexit, the U.K. and EU announced a “reset” that will ease barriers to importing and exporting food, drink, and agricultural produce. It may also harmonize rules around carbon emissions trading systems, simplifying compliance for multinational organizations that are large emitters, and enable more young people to gain ...
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