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Governance & Reporting, Opinion, Regulation & Supervision

It’s time to 'consider overhauling the FCA'

By Matthew Russell
September 4, 2023

Stripping the Financial Conduct Authority of its anti-money laundering responsibilities in favour of a single ‘mega supervisor’ is one of the boldest ideas this government has had to tackle dirty money. The UK current anti-money laundering regime is ripe for an overhaul: now is the time for bold action.

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A logo sits on a sign in the reception area of the headquarters of the Financial Conduct Authority (FCA) in the Canary Wharf business district in London, U.K., on Thursday, Nov. 21, 2013. The FCA is working with regulators including the U.S. Department of Justice and the Commodity Futures Trading Commission to investigate the potential manipulation of the foreign-exchange market. Photographer: Chris Ratcliffe/Bloomberg
Financial Stability, Governance, News, Prudential
August 24, 2023

UK mulls ditching FCA over compliance checks

UK bank compliance teams face the prospect of a new supervisor, under proposals to deter money laundering and terrorism financing. The structural overhaul would create a new ‘mega supervisor’ to...
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