Britain urged to keep dirty money out

British lawmakers want the nation's Financial Conduct Authority to have a larger role and stronger powers, so it can keep dirty money out of the London Stock Exchange.

Members of Parliament on the cross-party foreign affairs committee made the call on Wednesday with the publication of a report about the United Kingdom's financial sector and the effectiveness of the country's sanctions policy.

They said the financial authority, known as the FCA, should not only look at the suitability of company directors to participate in the stock exchange but also at would-be investors and companies, to ensure those associated with criminals, hostile governments, and corrupt foreign officials are barred on national security grounds.