The FCA has published a speech delivered by Therese Chambers, FCA Joint Executive Director of Enforcement and Market Oversight, at the International Bar Association (IBA) Anti-Corruption Conference. The speech indicates that there is much that is not seen publicly in relation to the fight against financial crime.
- Financial crime is becoming faster, more complex and more widespread than ever before. We are making fuller use of the tools available to us, including the credible threat of enforcement, to step in before harm escalates.
- Enforcement is about more than just headlines. It also includes the quieter work of supervision, market oversight and proactive detection.
- A whole-system (even worldwide) response is crucial. Regulators, law enforcement and industry need to work together to close the gaps criminals rely on.
- The speech addresses the themes of ‘changing threat, changing model’, cutting off harm at the root, a global response for a global problem, and the fact that the fundamental principles remain in place.