Ewan King a former retail investment adviser has been fined around 20,000 pounds and banned from undertaking any regulated activity after fabricating his statement of professional standing.

Standard Bank was fined around 7.6 million£ for failings relating to its anti-money laundering policies and procedures over corporate customers being connected to politically exposed persons.

The FCA sent out guidance that advisers and product providers share the responsibility for managing potential conflicts of interests when receiving and making payments.

The Basel Committee on Banking Supervision has issued a set of guidelines to describe how banks should include the management of risks related to money laundering and financing of terrorism within their overall risk management framework.