UK - The FSA must deliver clarity on its money-laundering rules in a bid to avoid financial industry uncertainty, Beachcroft Wansbroughs Consulting warns.
The financial services consultancy welcomed the fact that the FSA had watered down proposals to force financial companies to carry out identity checks but said it was concerned the regulator had not withdrawn them completely.
The proposed rules now mean the FSA will look at the extent to which financial services firms have carried out the identification of new and existing customers.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.