DLA Piper’s Financial Services Regulatory team has issued there Spring 2017 edition of its Anti-Money Laundering (AML) Bulletin. In this issue, they provide updates on AML developments and enforcement actions in the UK and internationally, including:
UK News and enforcement action
- HM Treasury updates advisory notice on money laundering and terrorist financing controls in overseas jurisdictions
- Department of Business, Energy & Industrial Strategy publishes discussion paper on the beneficial ownership provisions of MLD4
- FCA speech by Robert Gruppetta on FCA’s financial crime priorities
- Home Secretary gives speech on legislative developments and government commitment to anti-money laundering
- Deutsche Bank fined by FCA for AML control failings
- Cutting red tape review of the UK’s anti-money laundering and counter-terrorist financing regime
- HM Treasury’s second consultation on Money Laundering Regulations 2017
- HM Government to create office for professional body for anti-money laundering supervision
- FCA issues guidance consultation on treatment of politically exposed persons under draft Money Laundering Regulations 2017
International news
- FATF guidance on criminalising terrorist finance
- European Commission’s roadmap on proposal for Directive on Criminalisation of Money Laundering
- Joint Committee of ESAs publishes final guidelines on risk-based supervision under MLD4
- Basel Committee on banking supervision issues consultation document on revisions to correspondent banking guidance
- ECB publishes opinion on proposed directive amending MLD4
- Developments on Fifth Money Laundering Directive
- Proposal for a Countering Money Laundering Directive issued by the European Commission
- Delay of MLD4 RTS confirmed by the European Supervisory Authorities
- Transparency International publishes report on public disclosure of AML statistics
- Joint Committee of ESAs publishes opinion on money laundering and terrorist financing risks
- Extension of sanctions over actions against Ukraine’s territorial integrity
DOWNLOADS – Read the full bulletin https://www.dlapiper.com/~/media/Files/Insights/Publications/2017/04/AML_Bulletin_Spring_2017.pdf
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