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U.K.’s Compliance Efforts to Focus on Anti-Bribery, Sanctions and Regulatory Changes in 2012
By Vanya Dragomanovich
printA planned regulatory overhaul, economic sanctions against Iran and the enforcement of anti-bribery rules will be among the biggest issues British financial institutions contend with in 2012, say experts. By the year's end, the country's chief financial regulatory, the Financial Services Authority (FSA), will be split into two new agencies, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. HM Treasury officials said in February that the FCA, which will be responsible for anti-money laundering (AML) and sanctions enforcement duties, will "take a tough approach to regulating." What that approach could look like may be hinted at in the...
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