On 22 June 2017, as one of its first pieces of business, the new UK Parliament enacted the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (The Regulations). The Regulations implement Directive 2015/849/EU, the EU’s “4th Anti-Money Laundering Directive”, and took effect on 26 June 2017. Contained within the Regulations are […]

Hundreds of thousands of trusts will be hit by sweeping new reporting rules that came into force this week as part of a money laundering crackdown. Trustees will need to give HM Revenue & Customs a detailed picture of the assets held in a trust, as well as the identities of trustees and beneficiaries. The […]

The UK Trust Register has arrived and it will affect most, if not all, trustees and fund administrators in the Channel Islands. On 26 June 2017, the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 were enacted in the UK. The regulations introduce the UK’s Register of Beneficial Owners […]