Thematic Review by FCA of Asset Managers in the UK

November 01, 2013

The Financial Conduct Authority has now completed its thematic review of Anti-Money Laundering and Anti-Bribery and Corruption Systems and Controls: Asset Management and Platform Firms (TR13/9). The review of 22 wealth and asset management firms was published on 31 October 2013, and identified a number of areas of poor practice within the sector in dealing with the risks of money laundering, bribery and corruption. The concerns of the FCA regarding how asset managers address compliance should cause many firms to consider taking immediate action to improve systems and controls.

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