In December 2017, the European Supervisory Authorities published a Report on draft Joint Regulatory Technical Standards (“RTS“) on the measures that credit and financial institutions should take to manage money laundering risk in their non-EU overseas branches and subsidiaries. The RTS focusses on the measures that EU firms must adopt when local law prevents their branches […]

On 27 June 2017, the Joint Committee of the three European Supervisory Authorities (“The ESAs”) – namely the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets authorities – has issued Joint Final Guidelines (the “Guidelines”) under the 4th Anti-Money Laundering Directive (“4AMLD”). It focuses on customer due […]

On 16 March 2017, the FCA published a guidance consultation on the treatment of politically exposed persons (PEPs) under the proposed Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (GC17/2). Click Here To See FCA – guidance consultation:  http://bit.ly/2nMfNTm Background: HM Treasury published the draft regulations for consultation on […]