View more on these topics

FSA to streamline anti-money laundering rules

The FSA is planning to streamline its anti-money laundering requirements as it simplifies the FSA Handbook in March.

It will remove the detailed rules on anti-money laundering controls in their entirety, replacing them with high level requirements for firms to put their own risk-based controls in place.

The initiative hopes firms will target resources on activities which are most likely to result in deterring and detecting money laundering.

Although the changes are effective from March, firms will have until August 2006 to become fully compliant with the new rules.

FSA financial crime sector leader Philip Robinson says: The changes in our handbook do not mean we are going soft on money laundering, they are part of delivering a more proportionate and effective regime to counter money laundering. We believe that firms will increasingly be able to target their resources where they will make the most difference in fighting crime.”


Investment View: Interesting times

Are low interest rates always a good thing? They certainly did not appear to be in Japan. Rising interest rates and the prospect of real dividends from Japanese companies are indicative of a return to health for the Japanese economy and they have been accompanied by a resurgence in the stock-market.

NU enters premier league

Norwich Union International has launched the offshore premier portfolio bond, a unit-linked bond that provides access to virtually any investment fund the investor wants.

FSA says that advisers are locked in spiral of decline

The FSA says advisers could be caught in a “spiral of decline” because of falling revenues and increasing oper- ating costs. In a paper charting the risks posed to the financial serv- ices sector, the FSA admits that the burden of regulation it imposes, including depol- arisation changes and the treating customers fairly initiative, is […]

Image courtesy of Stuart Miles at

Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm