Compliance Monitor

With the 'failure to prevent fraud' offence now in force, an additional burden rests on compliance functions to ensure that firms have reasonable procedures in place to counter relevant risks. Charlotte Hill outlines the scope of the new offence, lessons from parallel legislation and practical steps to implement.

A coordinating European agency is to tighten supervision and raise standards for anti-money laundering compliance across member states. Ted Datta explores the substantial implications for many UK-based financial institutions.

The regulator has published feedback on its multi-firm reviews into share buybacks, gifts and entertainment, off-channel communications, transaction governance, along with client asset arrangements. Denis O'Connor discusses discrepancies and lessons from the findings.