On November 14, 2014, the FCA published a proposed updated financial crime guide to include examples of good practices that emerged from the regulator’s review of anti-money laundering, sanctions, and anti-bribery and corruption systems and controls in place by small banks and insurance firms. The FCA considers that work is still to be done by some firms to reduce the risk of financial crime. The FCA guidance is not binding on firms but should be considered by firms implementing systems and controls. The consultation closes on February 6, 2015.
The consultation paper is available at: