The chair of the Treasury Committee has written to the Financial Conduct Authority, the revenue and customs agency HMRC and other government ministers about the money-laundering revelations contained in the FinCen papers.

In his letter to the interim chief executive of the FCA, Conservative MP Mel Stride asked Chris Woolard what action the regulator was taking following publication of the revelations. He also asked what needs to be done to “further secure the financial system from economic crime” as well as whether or not the City watchdog’s ongoing investigations may be affected by this.