This overview is a guide to the Financial Services/Financial Crime subtopic Anti-bribery and corruption (ABC) and includes links to appropriate materials. A comprehensive collection of news and developments relating to ABC for financial services can be found in the News tab of this sub-topic.
The Financial Conduct Authority (FCA) does not enforce the Bribery Act 2010 (BA 2010), nor does it provide guidance on compliance with the BA 2010. Its role is to assist firms in complying with anti-bribery laws as part of its financial crime statutory objective, which requires it to pursue the objective of reducing the extent to which it is possible for a regulated business to be used for a purpose connected with financial crime.
The FCA is keen to ensure firms have appropriate systems and controls in place to prevent financial crime under the Senior Management Arrangements, Systems and Controls sourcebook (SYSC)—see: SYSC 3.2.6R and SYSC 6.1.1R. The FCA's definition of financial crime includes corruption, and therefore, goes further than the BA 2010.
The FCA may decide to take...
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