Investment banks still have 'significant' work to do on anti-bribery controls, FSA concludes

Bribery Act

The UK Financial Services Authority (FSA) has declared that most investment banks still do not have adequate anti-bribery and corruption controls despite the Bribery Act being enforced almost a year ago.

The regulator published the findings of its thematic review into such systems and controls in investment banks on March 29. The study was conducted from August 2011 onwards; the FSA visited eight major global investment banks and seven smaller institutions to examine how they mitigate bribery an