Latest Compliance News

BoE plans to make banks hold an additional £10bn

01 December 2015 at 11:47

The Bank of England (BoE) announced today (December 1st) plans to require banks to hold an additional £10 billion in capital. This move comes as the economy sees recovery after the 2008 financial crash and banks begin to lend more freely. The BoE has not demanded immediate action on this, and is likely to raise the buffer steadily to this level.

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Regulatory fines rocket

30 November 2015 at 11:32

Regulators are increasing punishments for financial misconduct, with fines rising 271 per cent over the last two years to hit a total of £2.45 billion. The size of the average penalty has increased by an even higher amount, with a jump of 291 per cent from £10.8 million to £42.3 million, according to data published by accountancy firm EY.

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Barclays fined £72m

27 November 2015 at 13:27

Barclays has been fined £72 million by the Financial Conduct Authority (FCA) for failing to properly carry out anti-money laundering and financial crime checks on a major transaction. This marks the largest fine ever imposed by the FCA for failures to comply with anti-financial crime rules.

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Autumn statement predicts growth for UK finance

26 November 2015 at 14:23

Chancellor George Osborne yesterday delivered the Autumn statement, which showed the improving state of UK finances.

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Luxury goods retailers are being used for money laundering

25 November 2015 at 13:45

The UK luxury goods sector is being targeted for money laundering, according to research conducted by Transparency International UK (TI). 

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