FCA Reviews Financial Crime Controls at Asset Management and Alternatives Firms

The FCA published findings from a review of financial crime systems and controls at firms in the asset management and alternative investments sector, highlighting gaps in areas such as customer due diligence and transaction monitoring. The review sets out expectations for firms to strengthen anti-financial-crime frameworks in line with FCA standards.

• Identifies gaps in financial crime systems and controls at asset management and alternatives firms
• Highlights weaknesses in customer due diligence and transaction monitoring practices
• Sets supervisory expectations for strengthening anti-financial-crime frameworks