- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Ruth Prickett2024-01-24T12:49:00
The U.K.’s National Audit Office (NAO) highlighted “significant” delays between the Financial Conduct Authority (FCA) finding an issue and acting upon it.
A recent NAO report noted delays of up to three years between the FCA requiring crypto-asset firms to register (January 2020) and the date when it began to act against illegal crypto ATMs (February 2023).
Gareth Davies, head of the NAO, said the regulator needed to become better at using data.
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The U.K. Financial Conduct Authority warned the chief executive officers of approximately 1,000 financial institutions it supervises regarding common failures in anti-money laundering procedures it observed during recent assessments.
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