Brokers must tighten controls, as FCA eyes "money laundering through the markets"

Wholesale brokers in stocks, bonds, currencies and other capital markets need to work more closely with law enforcers and other public bodies in order to improve their detection of evolving risks of "money laundering through the markets" (MLTM), according to an FCA report.

By Neasa MacErlean

The regulator is particularly concerned about this sector because of its role in global trading, the scale of transactions and its potential "to have a significant impact on the integrity of markets".