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FCA writes to UK Finance on SARs and STORs

FCA has published a letter it wrote to UK Finance in September explaining its responsibilities in relation to SARs and STORs under MAR.  The key point the letter makes is to stress that, while FCA works closely with the NCA, reports made to it under MAR do not take away the responsibility of firms to make SARs under POCA or the TA. It refers firms to the relevant parts of FCG and its thematic review of financial crime risks in the capital markets.

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Emma Radmore