News

Britain's Financial Conduct Authority is closely monitoring six financial institutions owned or run by individuals or other businesses subject to U.K. asset freezes and transactional bans. Responding to a request ACAMS moneylaundering.com made pursuant to the U.K. Freedom of Information Act, the FCA, which supervises only financial institutions, disclosed that staff with the agency found "ownership links between six regulated firms and entities/individuals" blacklisted by Britain. Confirmed links can lead to supervisory actions, including an assessment of whether the firm still meets the FCA's minimum standards for doing business, whether any non-blacklisted directors or controllers raise "fitness and propriety concerns,"...