Why Did UK FSA Cite Investment Banks for Lack of Anti-Corruption Controls?

  • By: ComplianceOnline Expert
  • Date: May 04, 2012
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UK’s Financial Services Authority (FSA) expects UK-based investment banks to maintain effective systems of control to check financial crime risk in the firm, i.e., the risk that anyone in the firm or on behalf of the firm engages in bribery or corruption. The FSA visited 15 firms – eight major, global investment banks and other smaller firms that were into investment banking activities to assess the extent of compliance with its instructions on Anti-bribery and Corruption (ABC) controls.

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