UK Parliament
The Money Laundering and Terrorist Financing (Amendment) (No. 3) (High-Risk Countries) Regulations 2021 - 1 November 2021
The Money Laundering and Terrorist Financing (Amendment) (No. 3) (High-Risk Countries) Regulations 2021 (SI 2021/1218) have been published, together with an explanatory memorandum.
The Regulations amend the Money Laundering Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692) (MLRs) by substituting the list of high-risk third countries in Schedule 3ZA for a new list. The new list classifies Jordan, Mali and Turkey as high-risk countries for the purposes of enhanced customer due diligence requirements in regulation 33(3).
The Regulations came into force on 2 November 2021.
The Money Laundering and Terrorist Financing (Amendment) (No. 3) (High-Risk Countries) Regulations 2021
Explanatory memorandum
HM Treasury
AML/CTF controls in overseas jurisdictions - HM Treasury updates advisory notice - 28 October 2021
HM Treasury has updated its advisory notice on anti-money laundering (AML) and counter-terrorist financing (CTF) controls in higher risk jurisdictions under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The updated advisory notice takes into account two statements published by the Financial Action Task Force on 21 February 2021, identifying jurisdictions with strategic deficiencies in their AML and CTF regimes.
HM Treasury advisory notice on AML and CTF controls in higher risk jurisdictions
Webpage
Financial Conduct Authority
Conspiracy to defraud - FCA publishes Final Notice - 27 September 2021
The FCA has published a final notice issued to Colin Bermingham, a former trader at Barclays Bank plc, prohibiting him from performing any function relating to any regulated activity carried on by any authorised or exempt person, or exempt professional firm. The order relates to Mr Bermingham’s conviction for one count of conspiracy to defraud in respect of fixing the Euro Interbank Offered Rate (EURIBOR).
The FCA issued Mr Bermingham with a warning notice on 16 January 2014, proposing to impose sanctions against him. The regulatory proceedings were stayed, pending the Serious Fraud Office’s (SFO) decision as to whether to charge Mr Bermingham. Mr Bermingham was charged, and on 28 March 2019 was convicted of one count of conspiracy to defraud in respect of fixing EURIBOR.
Final notice
