Cryptocurrency: Wild West or Wall Street? [More with McGlinchey, Ep. 22]
On 6 October 2023, the Financial Conduct Authority (“FCA”) updated its anti-money laundering (“AML”) and counter terrorist financing (“CTF”) regime webpage (“Webpage”) with useful feedback on good and poor quality...more
In recent weeks, the use of encrypted messaging applications for business purposes has returned to the spotlight. In July 2023, legal challenges surrounding the disclosure of messages on devices used by former Prime Minister...more
The U.K. Joint Money Laundering Steering Group opened a consultation on July 28, 2023 on guidance on the U.K. travel rule for cryptoasset transfers. The Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations...more
Future of UK financial services: Treasury Committee inquiry written evidence - The House of Commons Treasury Committee has published written evidence to the committee's inquiry into the future of financial services in the...more
European Union Withdrawal (Consequential Modifications) (EU Exit) Regulations 2020 - The European Union Withdrawal (Consequential Modifications) (EU Exit) Regulations 2020 (SI 2020/1447) have been published, together with...more
The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 - The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (SI 2020/991) have been published, together with an...more
AML/CTF supervision: HM Treasury annual report - The Bank of England (BoE) has published the Financial Stability Report for August 2020 and the financial policy summary and record of the meetings of its Financial Policy...more
The UK Financial Conduct Authority (FCA) has reminded crypto businesses to apply for registration by the end of the month to ensure that their applications are processed on time before the January 2021 deadline....more
A Director of Enforcement at the Financial Conduct Authority (FCA) has set out some of the key challenges the regulator expects in its new role as AML/CTF (anti-money laundering/counter terrorist financing) supervisor for...more
The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 have been published, amending the existing Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The...more
The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more
New regulatory requirements, including registration and customer disclosure requirements, apply to regulated and unregulated persons carrying on relevant cryptoasset business. On 20 December 2019, the UK government published...more
After the Panama Papers exposed efforts by wealthy individuals and government officials to hide funds offshore, government authorities around the world have responded with new legislation, regulations and enforcement actions...more
2 June - The ESMA published its final report on guidelines on product governance requirements under the MiFID II Directive (2004/65/EU). The guidelines (set out in Annex IV) to the final report aim to promote greater...more
After the Panama Papers, and with the recent FinCEN final Customer Due Diligence (CDD) rule, U.S. financial institutions are further focused on tightening internal controls against money laundering, terrorist financing,...more