FSA forms new crime-fighting division
LONDON – A new start to the year saw the UK Financial Services Authority (FSA) announce the formation of a new division, while HM Treasury published draft anti-money laundering legislation and quietly merged the Asset Recovery Agency (ARA) with the Serious Organised Crime Agency (SOCA).
At the FSA's annual Financial Crime Sector Conference in London in January, chief executive John Tiner said the formation of the regulator's new financial crime and intelligence division, led by Philip Robinson, would create a recognised centre of excellence to provide the leadership, tools and expertise needed to meet the increased challenges ahead and maintain the integrity of the UK's financial sector.
The new division is supposed to bring together all of the FSA's financial crime resources
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