HM Treasury in Call for Evidence

14/05/2009

The Money Laundering Regulations 2007 came into force on 15 December 2007. As a result of the regulations, all businesses that are covered by the regulations had to put in place suitable anti-money laundering controls.

HM Treasury has published a Call for Evidence on the Money Laundering Regulations 2007 and of the UK's anti-money laundering policies and procedures under them. The Call is designed to help inform a review of the anti-money laundering rules under the 2007 Money Laundering Regulations.

The review will focus on the full scope of the 2007 Regulations on guidance, and on other communications and with stakeholders. The review will also consider supervisory arrangements, industry practice and the customer experience under the 2007 Regulations. The review will look at how effective and proportionate the UK’s anti-money laundering rules are and identify possible areas for improvement.

The Call for Evidence is divided into Part A and Part B. Part A is aimed at responses from professionals familiar with the Regulations and their implementation, which include, among others, regulated firms and academics. Part B is aimed at customers of regulated firms including business customers and private individual customers. The Call for Evidence will run until 11 December 2009.

See http://www.hm-treasury.gov.uk/fin_crime_review.htm.

If you require help or advice relating to this or any other regulatory investigation matter, please contact Sarah Wallace on 0207 421 3883.