UK financial services industry group revises sanctions guidance

Posted on: 09/05/2017

JMLSG revises Parts II and III of its risk-based Guidance in line with proposed new Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations

The UK’s Joint Money Laundering Steering Group (JMLSG), a non-governmental organisation whose aim is to promote good practice in countering money laundering, is consulting on proposed revisions to its anti-money laundering and terrorism financing guidance. The revisions account for the establishment of OFSI, and make a number of other changes to the guidance covering the range of UK sanctions powers, including exemptions, licencing regimes, and the rules on providing insurance.

The consultation documents are available here, and JMLSG invites comments by 26 May 2017.

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