Mitigating financial crime risks in hedge funds: Strategies for compliance and safeguarding investor trust

Johnson, Diana

Abstract

Financial crime presents a significant challenge for asset managers, requiring them to be vigilant and proactive in combating illicit activities. This session provides an overview of financial crime in the context of asset management, highlighting its various forms, the potential consequences, and the importance of implementing effective preventive measures. Asset managers must prioritize robust compliance frameworks, internal controls, and staff training to mitigate the risks associated with financial crime. By doing so, they can protect their organizations, clients, and the integrity of the financial markets they operate in.
• The Economic Crime & Corporate Treasury Act 2023 – How are organisations looking to incorporate this?
• Mitigating the risks of corporate liability for fraud & economic crimes
• Complying with the UK Bribery Act and local anti-bribery laws in all jurisdictions to avoid legal and reputational risks
• Recognising the range of financial crime beyond just fraud
• Implementing robust monitoring systems and training employees to identify and report suspicious activities can help combat spoofing attempts
• Developing procedures to handle adverse situations:
o Safeguarding reputations post-incident
o Introducing proactive approaches, emphasizing compliance, transparency and a strong ethical culture throughout the organization to assist in this.

• Presentation Conference Type: Conference Paper (unpublished)
• Conference Name: HFM EU Legal Summit
• Start Date: Nov 14, 2023
• Deposit Date: Nov 15, 2023
• Public URL: https://uwe-repository.worktribe.com/output/11445683
• Additional Information: Panel discussion