You are here: Home - Investing -

Regulator calls for tougher financial crime sentences

Written by:
Martin Wheatley has called for tougher sentencing powers for white-collar criminals to force them to cut deals and expose other colleagues, the Independent reports.

The report said Wheatley, head of the Financial Conduct Authority (FCA), made the call after MPs on the Parliamentary Inquiry into Banking Standards complained the UK had a poor record on convictions when compared to other states.

Wheatley said the US was ahead of the UK in this field as it could use phone taps and had higher sentencing powers, reported The Independent.

He told MPs: “Very often because of higher tariffs somebody would turn state’s witness. If the tariff was higher we would have more people coming forward to co- operate with us. That level of co-operation would secure more convictions.

“It [insider trading] is a difficult crime to prosecute, but we have sent 20 people to jail and we are taking on complex and difficult cases.”

Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Apple shares fall as Q4 profits miss analysts’ expectations

Apple, the world's largest company, revealed profits in the fourth quarter missed analysts' estimates, prompting a share price drop of...