Official Journal of the European Union
4MLD - Delegated Regulation amending the list of high-risk third countries published in the Official Journal - 19 June 2020
Commission Delegated Regulation (EU) 2020/855 of 7 May 2020, which amends Delegated Regulation (EU) 2016/1675 setting out the list of high-risk third countries with strategic deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CTF) regimes under the Fourth Money Laundering Directive (EU) 2015/849 (4MLD), has been published in the Official Journal.
Listed countries include: (i) The Bahamas; (ii) Barbados; (iii) Botswana; (iv) Cambodia; (v) Ghana; (vi) Jamaica; (vii) Mauritius; (viii) Mongolia; (ix) Myanmar; (x) Nicaragua; (xi) Panama; and (xii) Zimbabwe. Meanwhile, Bosnia-Herzegovina, Ethiopia, Guyana, Lao People’s Democratic Republic, Sri Lanka and Tunisia have been delisted.
The protective measures for newly listed countries will apply from 1 October 2020. The delisting of countries will enter into force on 15 July 2020, 20 days following publication of the Delegated Regulation in the Official Journal of the European Union.
Official Journal: Delegated Regulation (EU) 2020/855 amending the list of high-risk third countries with strategic deficiencies in their AML and CTF regimes under 4MLD
Financial Conduct Authority
AML/CTF regime under MLRs - FCA publishes update on its role as supervisor of cryptoasset businesses - 22 June 2020
The FCA has published an update on its role as AML and CTF supervisor of certain UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). Cryptoasset businesses carrying out any of the activities listed on the FCA’s dedicated webpage have been required to comply with the MLRs since 10 January 2020.
New cryptoasset businesses intending to carry out a cryptoasset activity must be registered with the FCA before they can carry on the activity. Existing cryptoasset businesses already carrying on such activities prior to 10 January 2020 may continue their business, in compliance with the MLRs, but must register with the FCA by 10 January 2021 or cease all cryptoasset activity.
Firms are required to submit completed applications for registration by 30 June 2020 in order to allow enough time for the FCA to review submitted applications and follow-up with firms before the 10 January 2021 deadline.
Press release: FCA reminds cryptoasset firms of deadline to register with the FCA
Webpage on registration
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