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The newly elected Tory government wants to empower the United Kingdom's Charity Commission to close down groups that "misappropriate funds towards extremism and terrorism" as part of its efforts to combat terrorism.
U.K. elections in May aren't likely to spare British territories from implementing new corporate transparency measures, but the results could determine how soon and how far those steps are taken.
British parliamentarians advanced a measure Wednesday that would create the country's first registry of corporate owners as part of a larger effort to shine light on opaque shell companies.
A decision by the United Kingdom's financial regulator to disclose which banks it is investigating for potential infractions could lead to a slew of legal problems for the agency, say attorneys.
The United Kingdom should strengthen asset forfeiture and anti-money laundering powers as part of an effort to aid the recently-formed National Crime Agency, Britain's Home Office said in a report Tuesday.
A 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.
The United Kingdom's chief financial regulator fined Royal Bank of Scotland nearly USD $9 million on Tuesday, the agency's largest penalty ever for anti-money laundering and sanctions compliance failures.
