The CFTC settlement says Barclays had "no internal procedures and controls" determining how the Libor rates were calculated.

BBC: Inconvenient truths about Libor

Instead, we rely on a patchwork of authorities, largely derived from our role as a banking supervisor, as well as on moral suasion, to help ensure that the various payment and settlement systems have the necessary procedures and controls in place to manage the risks they face.

FORBES: Transcript

The Incumbent also will ensure effective and efficient management of the Office's operations and resources, in line with the Organization's policies, procedures and internal controls.

UNESCO: Main Menu

Management also concluded that its disclosure controls and procedures were ineffective at March 31, 2012.

FORBES: No Accounting For Auditor PwC At Levin's Whale Hearing

There would however be limited exceptions, as specified in the rule, to permit a broker or dealer to reasonably allocate certain controls and procedures to another registered broker or dealer that, based on its position in the transaction and its relationship with the ultimate customer, can more effectively implement them.

FORBES: No More Tolerance For Unlicensed Driving In The Markets

Maintain risk management controls and supervisory procedures under the direct and exclusive control of the broker-dealer with market access.

FORBES: No More Tolerance For Unlicensed Driving In The Markets

Now they insist that their procedures and intelligence have led to tightening up of controls, with better international cooperation, encouraged by the World Customs Union, and X-ray scanners to search cargo.

BBC: Lab bids to combat species smuggling