Author: Syedur Rahman 27 August 2020
The Financial Conduct Authority’s (FCA) plan to extend its annual financial crime reporting obligations to more firms and business sectors is expected to improve anti-money laundering practices in the financial sector. Yet it could prompt major changes in the working methods of those involved with cryptoassets.
The requirement for cryptoasset companies conducting business in the UK to be registered with the FCA by 10 January 2021 will lead to the FCA having more data while placing greater obligations on the firms and, in particular, on their compliance officers.
Rahman Ravelli’s Syed Rahman emphasised this to Thomson Reuters Regulatory Intelligence. His views were used in an article that can be read here. (Subscription required)
Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, civil recovery, cryptocurrency and high-stakes commercial disputes.