How to Comply with Financial Crime Law - Complimentary Guide Available

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 27, 2011 -- How to Comply with Financial Crime Law

Interview by Helen Winsor, Finance IQ


Emma Radmore, senior associate and professional support lawyer at SNR Denton’s financial markets and regulation practice, joins Finance IQ to discuss the FSA’s Financial Crime Guide and issues associated with cutting financial crime.

Finance IQ: You’ve recently commented on the FSA’s Financial Crime Guide, so today I'd like to pick up and discuss some of the key issues associated with cutting financial crime: firstly, how can firms ensure that they comply with all the demands of the laws to prevent financial crime?

E Radmore: Ensure is a very big word, especially in today’s regulatory environment, but I think there are really two things that will probably equip them best. The first thing is I think it's very important that they have a holistic and integrated approach to complying with the financial crime laws. I think what doesn’t work is if firms have discrete bits of the firm responsible for different bits of financial crime. That's where a lot of gaps and problems can arise.

The second important aspect I think is that they have to have a very engaged and supportive senior management, so that the people who are responsible for compliance know that they’ll be properly supported and backed up if they make unpopular decisions.

Finance IQ: How can companies comply with both the laws of the UK FSA and the US OFAC? If you could take the UK first?




Related event: The Anti-Money Laundering and Financial Crime Summit, October 25th – 26th at Le Meridien, Piccadilly, London. For further information about this conference, and for this transcript in full, please click here: http://www.financialcrimesummit.com/Event.aspx?id=553128&utm_campaign=Helen%20&utm_medium=HWOnline&utm_source=Linked%20In&utm_term=ANTI%20MONENY%20LAUNDERING&MAC=HW_PROMO_FAML

banking     economics     finance     financial crime     financial law     financial market     financial regulation     legal