The House of Commons has published an amendment paper to the Finance (No. 2) Bill (Bill). The amendments apply to clauses 53 to 66 in Part 3 of the Bill which introduce the economic crime (anti-money laundering) levy (ECL) that will apply to certain persons regulated under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692) (MLRs).
Three notable changes have been introduced by the amendments:
House of Commons: Finance (No. 2) Bill (Amendment Paper)
HM Treasury has published its ninth annual supervision report on anti-money laundering (AML) and counter-terrorist financing (CTF) for 2019/20. The report relates to the performance of AML and CTF supervisors (including the FCA) between 6 April 2019 and 5 April 2020, as is required under section 51 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692) (MLRs).
The supervision report concludes that supervisory action is broadly consistent with the previous reporting period, and refers to a need for greater consistency in the approach to supervision and enforcement.
HM Treasury: Anti-money laundering and counter-terrorist financing: Supervision Report 2019-20
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