Speaking to the BBC, the head of the City’s chief financial watchdog said that before the Financial Services Act came into operation in December last year, it did not have the responsibility for reducing financial crime in London.
But he said the Act contained a ‘new set of controls to bring criminal prosecutions against banks for money laundering offences.’
Sir Howard insisted that problems in tackling money laundering offences have now been resolved.
He told the BBC: ‘We perfectly accept there was a gap in our regime, that has now been filled.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.