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British Banking Regulator Likely to Get Tougher on AML Violators, Says U.K. Lawyer
printU.K. financial regulators will likely only get tougher on British banks that violate anti-money laundering laws in the coming year, possibly going so far as to prosecute individuals, according to Jonathan Fisher QC, a London-based barrister who advises on financial crime and tax cases. The nation's Financial Services Authority (FSA), which is scheduled to be split into two bodies, is expected to begin using deferred prosecution agreements (DPAs) and, potentially, non-deferred prosecutions, said Fisher. British lawmakers too will have to act on FSA recommendations following the upcoming publication of EU money laundering rules, he said. Fisher, who is the process...
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