Draft Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 published
HM Government has published a response to the consultation on the Money Laundering Regulations 2017 (MLR 2017), along with draft regulations. Additional comments are sought on the draft regulation by 12 April 2017. The regulations contain a number of additions to the existing Money Laundering Regulations, including changes to scope, due diligence and reliance on third parties, beneficial ownership, and changes to the supervision bodies and enforcement powers. The final MLR 2017 must be in force by 26 June 2017.