News & Analysis as of

Financial Conduct Authority (FCA) Money Laundering Financial Services Industry

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, August 2025

Hogan Lovells on

Key developments of interest over the last month include: the U.S. Consumer Financial Protection Bureau's decision to restart the open banking rulemaking process; the UK FCA's publication of a policy statement with final...more

White & Case LLP

A call to arms: The FCA highlights the ongoing risk of money laundering through the capital markets

White & Case LLP on

The UK's capital markets are a vital economic driver, and also a significant source of money laundering risk. This is a difficult area of risk for regulators and law enforcement to understand and tackle, but progress is being...more

A&O Shearman

HM Treasury Updates High-Risk Third Countries List under Money Laundering Regulations

A&O Shearman on

HM Treasury has updated its money laundering advisory notice on high-risk third countries. Under the U.K. Money Laundering Regulations, the U.K. regulated sector must apply enhanced customer due diligence in relation to...more

Hogan Lovells

The UK FCA’s cryptoasset financial promotions regime and the interplay with the UK AML regime

Hogan Lovells on

The UK Financial Conduct Authority (FCA) has reminded firms supporting and facilitating unregistered cryptoasset firms of their obligations under the Proceeds of Crime Act 2002 (POCA), specifically highlighting how they may...more

A&O Shearman

UK Legislates on Differentiating Risk of Domestic Politically Exposed Persons

A&O Shearman on

The Money Laundering and Terrorist Financing (Amendment) Regulations 2023, which amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (known as the MLRs), come into...more

WilmerHale

The Financial Conduct Authority’s Review of Firms’ Approaches to Politically Exposed Persons

WilmerHale on

The UK Financial Conduct Authority (FCA) launched in September a review of the treatment of domestic politically exposed persons (PEPs) by UK-regulated financial services firms. This review will look at firms’ arrangements...more

Pillsbury Winthrop Shaw Pittman LLP

Provisions Relating to Digital Assets under the Financial Services and Markets Act 2023 Come into Force

With new provisions in effect beginning August 29, 2023, the UK’s regulatory framework for digital assets begins to take shape. FSMA 2023 explicitly brings cryptoassets within the FCA’s regulatory perimeter and creates a...more

A&O Shearman

UK Joint Money Laundering Steering Group Proposed Cryptoasset Travel Rule Guidance

A&O Shearman on

The U.K. Joint Money Laundering Steering Group opened a consultation on July 28, 2023 on guidance on the U.K. travel rule for cryptoasset transfers. The Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations...more

White & Case LLP

UK applies marketing restriction to cryptoassets

White & Case LLP on

From 8 October 2023, marketing of cryptoassets in the UK will be subject to a general restriction on financial promotions,1 breach of which is a criminal offence. The restriction will apply to communications capable of having...more

White & Case LLP

New FCA rules for regulated firms marketing cryptoassets

White & Case LLP on

The UK Financial Conduct Authority (FCA) has unveiled new and near-final rules in Policy Statement 23/6 (PS23/6)1 that will apply to: - 'authorised persons', which includes firms authorised under Part 4A of the Financial...more

Sullivan & Worcester

Compliance Alert! Regulated Entities Gear Up for the UK's Economic Crime Levy

Sullivan & Worcester on

If your organisation is both supervised under the UK Money Laundering Regulations (“MLR”) and your UK Revenue exceeds £10.2 million per year, if you are not already, you will need to prepare for the forthcoming Economic Crime...more

Goodwin

The FCA’s 2023/24 Priorities for UK Payments: Firms and Investors, Take Note

Goodwin on

On March 16, 2003, the UK Financial Conduct Authority (FCA) published its letter Portfolio Letter: FCA priorities for payments firms to the CEOs of UK Payment Institutions (PIs), Electronic Money Institutions (EMIs), and...more

Morrison & Foerster LLP

Cryptoasset Firms Marketing to UK Consumers Warned to Begin Preparing for Financial Promotions Regime Now

The UK Financial Conduct Authority (FCA) has warned cryptoasset firms marketing to UK consumers (including from overseas) to start preparing now to comply with the UK financial promotions regime, which is soon to be expanded...more

K&L Gates LLP

Challenges for Challengers – the FCA Shares Its Expectations for Financial Crime Controls at Disruptor Banks and Provides Lessons...

K&L Gates LLP on

The Financial Conduct Authority’s (FCA) expectations for challenger banks provide lessons for all in the financial service industry. Challenger banks, offering updated consumer experiences and disrupting standard practice...more

A&O Shearman

What the FCA’s Business Plan and Strategy really means: financial crime

A&O Shearman on

Financial crime has been a key area of focus for the UK Financial Conduct Authority (FCA) for a number of years, attracting some of the highest financial penalties, and this looks set to continue. With improvements to FCA...more

McDermott Will & Schulte

New Whistleblowing Regime Introduced by the Dubai Financial Services Authority

On 7 April 2022, changes to DIFC Regulatory Law 2004 and the DFSA Rulebook came into force, to implement proposals concerning a whistleblowing regime that were consulted on by the DFSA in 2021. The Regime applies to all...more

Cadwalader, Wickersham & Taft LLP

Statement from UK Financial Regulatory Authorities on Sanctions and the Cryptoasset Sector

On March 11, 2022, the UK Financial Conduct Authority (“FCA”), the Office of Financial Sanctions Implementation (part of HM Treasury) and the Bank of England published a joint statement (the “Statement”) on sanctions and the...more

Proskauer Rose LLP

Regulation Round Up - January 2022

Proskauer Rose LLP on

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more

A&O Shearman

FCA and PRA Enforcement Action: Trends from 2021 and Predictions for 2022

A&O Shearman on

As the dust looks like it is starting to settle on the Covid-19 pandemic, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have been busy resuming their enforcement agendas. Originally...more

Proskauer Rose LLP

Regulation Round Up - September 2021

Proskauer Rose LLP on

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recent AML Enforcement Trends in the UK

The UK has stepped up its anti-money laundering (AML) enforcement approach in recent months, both issuing larger fines and looking to expand the scope of activities it regulates. Historically, the UK has consistently taken a...more

Hogan Lovells

Financial institutions general regulatory news, April 2021

Hogan Lovells on

UK-EU MoU on regulatory cooperation in financial services - HM Treasury has announced that technical discussions on the text of the memorandum of understanding (MoU) on UK-EU regulatory cooperation in financial services have...more

Hogan Lovells

Financial institutions general regulatory news, March 2021 # 2

Hogan Lovells on

Future of UK financial services: Treasury Committee inquiry written evidence - The House of Commons Treasury Committee has published written evidence to the committee's inquiry into the future of financial services in the...more

Hogan Lovells

Banking and finance regulatory news, October 2020 # 4

Hogan Lovells on

Implementation of CRD V: PRA CP17/20 - The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP17/20, setting out proposed changes to its rules, supervisory statements (SS) and statements of...more

Hogan Lovells

Financial institutions general regulatory news, July 2020 #3

Hogan Lovells on

Draft Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 - HM Treasury has published draft Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020, together with a draft...more

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