The UK Home Office has published a progress report on the outcomes framework of the 2023 Economic Crime Plan 2 (ECP2). The ECP2 set out strategic objectives to reduce economic crime, safeguard national security and promote...more
Recent publications come in light of UK’s “greater autonomy” in setting AML and CTF regulations following Brexit. Background to the review - On 22 July 2021, HM Treasury published both a Call for Evidence on a review...more
Currently, cryptoasset exchanges and wallet providers are not generally required (depending on their business model) to identify their customers, monitor transactions or report suspicious activity. On 15 April HM Treasury...more
“My message to facilitators is this: we’ve had a lot of focus on banks; now my investigators are going to be focusing on you.” This was the warning delivered by the Minister for State and Security to the so-called...more
The Law Commission has published a substantial consultation paper entitled "Anti-Money Laundering: the SARs Regime," seeking views on proposals to reform the law of England and Wales governing anti-money laundering. In...more
In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more