On 9 May 2017, the Joint Money Laundering Steering Group (JMLSG) published the following for consultation:
- A revised version of Part II of its anti-money laundering (AML) and counter-terrorist financing (CTF) guidance (dated 10 May 2017).
- This Part consists of industry-specific chapters dealing with particular issues faced by a range of sub-sectors of the financial services sector. (It appears that the chapter on electronic money is not yet available for consultation.)
- A revised version of Part III of its AML and CTF guidance (dated 10 May 2017).
- This Part sets out specialist guidance on a number of topics.
On a related webpage the JMLSG explains that it has revised the guidance in line with the proposed
- Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (which a number of bodies are referring to as the “Money Laundering Regulations 2017”).
- The proposed 2017 Regulations are designed to transpose the Fourth Money Laundering Directive ((EU) 2015/849) (MLD4) and
- the revised Wire Transfer Regulation (Regulation (EU) 2015/847) (revised WTR) in the UK.
The JMLSG believes that the revised guidance is consistent with the Joint Committee of the ESAs’ risk factor guidelines.
Although the final version of the guidelines has not yet been published, the JMLSG explains that the revised guidance reflects the text proposed in the Joint Committee’s October 2015 consultation .
The JMLSG has also anticipated some possible changes that the Joint Committee will make.
Comments can be made on the revised versions of the guidance until 26 May 2017.
The JMLSG published for consultation a revised version of Part I of its AML and CTF guidance on 21 March 2017
HM Treasury has been consulting on the proposed 2017 Regulations, and has advised that they will come into force by 26 June 2017, which is the transposition date for both MLD4 and the revised WTR
For the consultation version of Part II click here http://www.jmlsg.org.uk/download/9988
For the consultation version of Part III click here http://www.jmlsg.org.uk/download/9989
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