Consultation on anti-money laundering supervisory regime continues
Released 16 March 2017
The Treasury has put out a call for further views on the mandate and powers for the new Office for Professional Body Anti-Money Laundering Supervision (OPBAS). It also welcomes comments on how the supervisory regime might evolve over time, especially in the legal and accountancy sectors, and how any shortcomings in different scenarios might best be addressed.
The consultation is part of the Cutting Red Tape Review of the Anti-Money Laundering and Counter Financing for Terrorism Regime. OPBAS will be hosted within the Financial Conduct Authority (FCA) and will have an overarching responsibility to strengthen the UK’s supervisory regime by improving coordination between AML supervisors and with law enforcement.
The consultation closes on 26 April 2017.
More details are available here.