The U.K. financial regulator said it plans to "substantially" maintain its current enforcement approach when implementing the European Union's anti-money laundering legislation. The Financial Conduct Authority, or FCA, released a consultation paper Monday seeking industry feedback on proposed changes to its penalty policy for anti-money laundering or counterterrorist financing compliance failures as part of the United Kingdom's plans to implement the European Union's Fourth Anti-Money Laundering Directive, or 4AMLD, this month. The FCA said it will maintain its current approach to determining penalties under the United Kingdom's decade-old money laundering regulations, because it will be "equally appropriate" under the latest...