GC14/7 Proposed guidance on financial crime systems and controls

Published: 14/11/2014     Last Modified: 30/08/2015

We invite views on amendments to our regulatory guidance, Financial crime: a guide for firms.

We propose to update our regulatory guidance, Financial crime: a guide for firms with examples of good practice from our two recent thematic reviews that considered small banks’ anti-money laundering and financial sanctions, and small commercial insurance brokers anti-bribery and corruption, systems and controls.

We also propose to amend our guidance to clarify our expectations in some areas where significant weaknesses persist.

Who does this guidance affect?

This guidance applies to all firms subject to our financial crime rules in SYSC 3.2.6R or SYSC 6.1.1R. It also applies to e-money institutions and payment institutions within our supervisory scope and Annex 1 financial institutions for whom we are the supervisory authority under the Money Laundering Regulations 2007.

GC14/7 Proposed guidance on financial crime systems and controls

What are the next steps?

Please send us your views by 6 February 2015. Send your responses by email to carolin.gardner@fca.org.uk.

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