Partner Chris Roberts has provided comment in Law360 on the implications of the FCA finding “weaknesses” in financial crime controls at a number of UK wealth managers.

Commenting on the regulator’s findings, Chris said: “Evidently, a significant minority of firms still aren’t gathering the basic client data that makes financial crime monitoring possible in the first place. Missing sanctions screening in 7% of firms is particularly hard to justify given the potential criminal risk.

“No doubt the FCA will use this report as a basis for identifying the firms, and types of firms, that would benefit from s.166 reviews.”

Chris’ comments were published in Law360, 18 August 2026.