UK mulls ditching FCA over compliance checksBy Bill Lumley
August 24, 2023
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 take over from the Financial Conduct Authority and the patchwork of other regulators that currently oversee the sector.
The UK prudential regulator is considering whether or not to copy US regulators and delay bank capital hikes, but UK banks are urging the regulator to resist and follow the...Read more