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Anti-Money Laundering AML/CFT United Kingdom

Ropes & Gray LLP

UK and EU Money Laundering Risk Assessments 2025: Key Findings for Asset Managers

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In July 2025 HM Treasury and the Home Office issued the UK National Risk Assessment of Money Laundering and Terrorist Financing 2025 ('NRA 2025'), while the European Banking Authority (EBA) published its fifth Opinion on...more

A&O Shearman

Wolfsberg Group issues statement on the RBA for financial crime risk management

A&O Shearman on

The Wolfsberg Group (the Group) has released a statement reaffirming its commitment to the risk-based approach (RBA) for financial crime risk management. Further to its 2006 RBA guidance, and in line with the Financial Action...more

K&L Gates LLP

Key Lessons: The Latest UK Office for Financial Sanctions Implementation Art Market Participants and High Value Dealers Threat...

K&L Gates LLP on

On 18 June 2025, the UK Office for Financial Sanctions Implementation (OFSI) released a Threat Assessment (the Assessment) targeting Art Market Participants (AMPs) and High-Value Dealers (HVDs). This follows new rules from 14...more

A&O Shearman

UK Conduct Authority publishes report on assessing and reducing the risk of Money Laundering Through the Markets

A&O Shearman on

The Financial Conduct Authority has published a report on assessing and reducing the risk of Money Laundering Through the Markets. Money Laundering Through the Markets is the use of capital markets to launder criminally...more

A&O Shearman

Outcomes from Financial Action Taskforce Plenary: October 2024

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The Financial Action Taskforce has published the outcomes from its plenary meeting, which took place between October 23 and 25, 2024. Outcomes include: - the approval of the last two assessment reports in the FATF's...more

Proskauer - Regulatory & Compliance

FCA Proposal: New requirement to provide criminal background checks on owners and controllers from January 2025

In July 2024, the UK’s Financial Conduct Authority (“FCA”) published its “Quarterly Consultation Paper No. 44” (“Consultation”), which proposed introducing a requirement to provide criminal background checks on owners and...more

Proskauer - Regulatory & Compliance

Regulation Round Up - June 2024

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in June 2024: 28 June PRIIPs Regulation: The Joint Committee...more

Proskauer Rose LLP

Regulation Round Up - May 2024

Proskauer Rose LLP on

Key developments in May 2024: ESG: The Financial Conduct Authority (“FCA”) updated its webpage on the sustainability disclosure requirements (“SDR”) and investments labelling regime. Among other things, the webpage has been...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2024

Conyers on

Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more

Conyers

Regulatory & Risk Advisory Outlook 2024: Cayman Islands

Conyers on

2023 was an active year for the Cayman Islands regulatory industry. While we have endeavoured to keep you updated throughout the year with our Regulatory & Risk Advisory Reviews, our team has highlighted below the key changes...more

Walkers

Caymans come off AML risk lists, signaling robust controls

Walkers on

Associating the Cayman Islands with money laundering has been a staple of film and television, from "The Firm" in the 1990s to, more recently, "Better Call Saul." However, scriptwriters may need to find another location...more

A&O Shearman

EU Securitisation Regulation: good news for Cayman SSPEs

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As the EU removes the Cayman Islands from the EU AML/CFT blacklist with effect from 7 February 2024, concerns and barriers for EU sell- and buy-side parties on securitisations involving Cayman SSPEs fall away....more

Walkers

Removal of the Cayman Islands from the EU AML List and UK AML List

Walkers on

Following the removal of the Cayman Islands from the Financial Action Task Force's list of "jurisdictions under increased monitoring" in October 2023, on 12 December 2023, the European Commission adopted the Commission...more

K2 Integrity

The Challenge of Transparency in Preventing Financial Crime: Navigating Financial Integrity in a Changing Risk Landscape

K2 Integrity on

The landscape of financial crimes is constantly evolving, and the concept of transparency is being fundamentally challenged. A dynamic, innovative approach is imperative to preserve and shape the future of financial...more

The Volkov Law Group

UK Parliament Enacts Sweeping New Fraud Legislation Aimed at AML/TF Activities

The Volkov Law Group on

On October 26, 2023, the Parliament of the United Kingdom of Great Britain and Northern Ireland enacted—after obtaining Royal Assent—a sweeping set of statutory requirements aimed squarely at combating fraud and money...more

Paul Hastings LLP

The UK’s New “Big Bang” for Crypto Regulation

Paul Hastings LLP on

The UK Government has successfully positioned the UK as a FinTech and Crypto-friendly jurisdiction. At the same time, in a post-Brexit world, UK regulation of the crypto sector has lagged behind developments in the EU where...more

BCLP

Liquidating Frozen Assets: When Foreign Policy Meets Sanctions Enforcement

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In their June 2022 report “The cost of complacency: illicit finance and the war in Ukraine”, the House of Commons Foreign Affairs Committee (the “FAC”) condemned the UK Government’s historic lack of commitment to tackling...more

K2 Integrity

Sanctions Against Russia: Understanding the Evolving Picture and How to Respond

K2 Integrity on

...Since the start of the invasion of Ukraine by Russian forces on February 24, the United States (U.S.), United Kingdom (UK), and the European Union (EU) have led a global sanctions campaign against Russia that has been...more

White & Case LLP

Four major changes to corporate transparency in 2022

White & Case LLP on

There is no doubt 2022 has signalled a renewed focus on beneficial ownership transparency. White & Case partners Jonah Anderson and Anneka Randhawa, and associate Laura Higgins have collaborated with Hannah Lilley and Michael...more

Latham & Watkins LLP

Private Bank Briefing - September 2021

Latham & Watkins LLP on

The latest edition of our Private Bank Briefing provides a roundup of legal and compliance issues impacting private banks and their clients from Q3 2021. In this edition, we include a summary of the latest sustainable...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recent AML Enforcement Trends in the UK

The UK has stepped up its anti-money laundering (AML) enforcement approach in recent months, both issuing larger fines and looking to expand the scope of activities it regulates. Historically, the UK has consistently taken a...more

Cadwalader, Wickersham & Taft LLP

UK Anti-Money Laundering Legislation in a Post-Bexit Landscape

Following months of uncertainty, on Christmas Eve a Brexit agreement was finally reached between the United Kingdom (“UK”) and the European Union (“EU”). The European Union (Future Relationship) Act 2020 (the “Act”) received...more

Hogan Lovells

Payments regulatory news, December 2020

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UK payment systems: Pay.UK recommendations for adopting ISO 20022 - Pay.UK published a report containing conclusions and recommendations relating to adopting the common global messaging standard for UK payments, known as...more

Latham & Watkins LLP

UK Firms Should Share Customer Information Cross-Border Intra-Group to Fight Money Laundering and Terrorist Financing

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UK government encourages regulated firms to share customer information within corporate groups, highlighting interaction with firms’ obligations under the Proceeds of Crime Act 2002 and GDPR. The UK government has...more

WilmerHale

‘Closing the door on dirty money’: the European Commission’s Anti–Money Laundering Action Plan

WilmerHale on

On 7 May 2020, the European Commission (Commission) issued a comprehensive and ambitious Action Plan and public consultation designed to strengthen the European Union's (EU) legal framework to fight against money laundering...more

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