The Joint Money Laundering Steering Group (JMLSG) has published a revised version of its guidance on the prevention of money laundering and combatting terrorist financing for the UK financial sector.
The final amendments relate to Part II of its guidance: Sector 5 (Wealth management); Sector 6 (Financial advisers); Sector 11A (Consumer credit providers); Sector 13 (Private Equity); and Sector 22 (Cryptoasset exchange providers and custodian wallet providers). These have been submitted to HM Treasury for approval. In addition, amendments have been made to Part I, Chapter 6, Paragraphs 6.70-6.71, to highlight the jurisdiction of the Financial Ombudsman Service to effectively handle complaints with a money laundering element.
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