Financial Conduct Authority (FCA), Due Diligence, Anti-Money Laundering

PEP talk: The UK FCA issues final guidance on the treatment of politically exposed persons

Hogan Lovells on 7/30/2025

The Financial Conduct Authority (“the FCA”) has published final guidance on the treatment of politically exposed persons (PEPs) for anti-money laundering purposes, which updates its Guidance issued in 2017 (“the 2017...more

Buying a UK Crypto Business: The New Regulatory Hurdles

Goodwin on 9/21/2022

The advance of the regulation of crypto-assets and crypto-related service providers has been piecemeal in the U.K. The latest round of changes took place in the Money Laundering Regulations 2017 (MLR) on 1 September...more

Regulatory Tolerance Wearing Thin When it Comes to AML Deficiencies

K2 Integrity on 4/16/2021

The Financial Conduct Authority’s (FCA’s) inaugural use of its criminal money laundering powers under Regulation 45 of the UK Money Laundering Regulations 2007 (MLR) against NatWest is viewed by many as a warning shot to...more

UK FCA becomes AML/CFT crypto supervisor

Hogan Lovells on 1/21/2020

The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more

UK Regulator Publishes Thematic Review of Money-Laundering Risks in Capital Markets

A&O Shearman on 6/18/2019

The U.K. Financial Conduct Authority has published a report on its thematic review assessing money-laundering risks posed to capital markets. The review involved 19 participants including investment banks, recognised...more

FCA sanctions bank and its MLRO for anti-money laundering systems failings

A&O Shearman on 12/7/2016

In this decision report we review the FCA’s action against Sonali Bank (UK) Ltd (Sonali Bank) and its money laundering reporting officer (MLRO), Steven Smith, in connection with failings identified in relation to Sonali...more