UK: FINDINGS FROM FCA MULTI-PROFESSIONAL BODY SUPERVISOR (PBS) TRUST AND COMPANY SERVICE PROVIDERS (TCSP) REVIEW WHICH LOOKED AT THE PBS APPROACH TO TCSP RISKS

The FCA has published this report which found that most PBS have assessed the TCSP risk within their own supervised populations as being relatively low.  This is contrary to the National Risk Assessment 2020 (NRA) which categorised TCSP as higher risk.  It says that PBS view company formation as a higher risk TCSP service, but had different views on the higher-risk and lower-risk indicators of TCSP services.  They also did not demonstrate a consistent understanding of TCSP ‘supply chain’ risk.

https://www.fca.org.uk/publication/multi-firm-reviews/opbas-multi-pbs-project-tcsp-risk.pdf

https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017