Financial Services Sector: Corruption

7. What steps she is taking to ensure the effective prosecution of corruption in the financial services sector.

The Economic Crime and Corporate Transparency Bill will extend the Serious Fraud Office’s pre-investigative powers, allowing it to compel people to furnish the SFO with information earlier in cases of domestic corruption and fraud.

I thank the hon. and learned Gentleman for his answer. Will he agree to meet me and a number of whistleblowers at his earliest convenience? We will provide him with evidence of corruption and fraud in financial institutions, financial regulators and the judiciary.

The Financial Conduct Authority rightly published guidelines in July 2017 referring back to the money laundering regulations of that year. The hon. Gentleman might want to direct his inquiries towards the Economic Secretary to the Treasury. In relation to his substantive question about prosecutions, it is of course right that both the SFO and the CPS operate independently. The Attorney General is responsible for safeguarding that independence, and she takes that role incredibly seriously.