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FSA Can Prosecute Laundering: U.K. Court of Appeals

The U.K.'s chief financial regulator can prosecute criminal money laundering and other crimes despite the fact that the agency is not explicitly given powers to do so, a British court ruled Friday. The decision by three British judges in London's Court of Appeal comes as a response to two separate court cases challenging the Financial Services Authority's (FSA) right to prosecute crimes under the U.K.'s Financial Services and Markets Act 2000. In court documents, lawyers for Neil Rollins, who was charged by the FSA in January for insider trading and money laundering, argued that the agency could not prosecute in...

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