BusinessCompany NewsFinancial crime suspects face arrest

Financial crime suspects face arrest

The Financial Services Authority is planning to use its powers to have those suspected of financial crimes arrested to ensure they attend enquiries.

Link: On the frontline: new FSA chief executive John Tiner

Under the 2000 Financial Services and Markets Act, the watchdog has the power to have suspects detained, though it has not made use of this yet.

But it has now reached agreement with the City of London police, who will, at the request of the FSA, detain individuals suspected of crimes in three broad areas: money laundering, fraud and criminal market abuse, the BBC Online reported.

The City of London, which has the biggest fraud squad in the UK, has welcomed the new arrangement

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor