Purpose – The purpose of this paper is to consider the outcome of the Financial Services Authority (FSA)'s first ever contested criminal prosecution of company directors accused of making misleading statements to the market. Design/methodology/approach – The paper reviews the trial and the...

Purpose – To report and comment on the tribunal case Phillippe Jabre v. FSA Design/methodology/approach – Outlines the facts and explains the decision reached. Findings – Had the tribunal resolved the market abuse issue otherwise it would have flown in the face of the realities of globally...

Purpose – To report and comment on the tribunal case James Parker v. FSA . Design/methodology/approach – Outlines the facts and explains the decision reached. Findings – An applicant's failure to abide by an employer's internal notification rules and clearance procedures applicable to...

Purpose – The Financial Ombudsman Service is a statutory body offering a dispute resolution service to consumers and firms. The purpose of this paper is to outline the service as an alternative to the civil courts. Design/methodology/approach – The paper compares the style, objectives and...

Purpose – The objective of this paper is to provide a global perspective of the operational risk (OR) management framework from an internal audit viewpoint. Design/methodology/approach – This paper describes the new role of the internal audit function in reviewing the OR framework. Findings...

Purpose – The purpose of this paper is to present a risk‐based approach to anti‐money laundering (AML) systems. Design/methodology/approach – The paper covers the areas of: customer due diligence, customer acceptance, risk management and implementation. Findings – Regulators and...

Purpose – In the UK, there is a strong government commitment to the compulsory use of annuities to manage the “decumulation” of assets in defined contribution pension schemes. Almost all annuity rates are determined by reference to the gender of the individual involved. This has the...

Purpose – The aim of the paper is to document the controls that presently exist in relation to domestic corruption, the need for reform of the law, in relation to both domestic and international corruption and the challenges that are faced by the UK Government in relation to enforcement of the...

Purpose – The debate over the possible extension of transparency regulation in Europe to include sovereign bonds has opened up a number of other issues in need of serious consideration. One such issue is the appropriateness of the entire infrastructure supporting the trading of European...

Purpose – Bank regulators across the world have recently lifted restrictions on where banks can operate and what type of activities they can perform. Following the deregulation of the sector, bank mergers and acquisitions have grown substantially. The purpose of this paper is to outline bank...