Further amendments to the JMLSG Guidance

The JMLSG has published revised versions of the sector specific additional material for asset finance (12) and syndicated lending (17) in Part II of its Guidance on the prevention of money laundering and the financing of terrorism.

FCA Data on UK Financial Crime

In a speech on 22 May 2018, the FCA revealed that 2,100 firms, including all the major banks and life insurers, had responded to the annual financial crime data return by 31 December 2017.

Sanctions and Anti-Money Laundering Act 2018

The Sanctions and Anti-Money Laundering Act 2018 creates a new sanctions regime for the UK after Brexit, needed to keep UK Anti-Money Laundering (“AML”) and Counter-Terrorist Financing (“CTF”) measures up to date.

FCA publishes its Business Plan for 2018/19

In its Business Plan for 2018/19, the FCA shows mitigating the effect of Brexit is its key priority for the coming year, supplemented by seven priorities across the financial sectors it regulates and other priorities within each of those seven sectors.

REP-CRIM

A reminder that a new financial crime data return (REP-CRIM) comes into force on 31 December 2016 – see Regulatory Roundup 75 and 78.

Market Abuse

The FCA has released consultation paper CP15/35 on the revised market abuse regime.

Whistleblowing

A new SYSC section, SYSC 18.4, introduces the concept of a whistleblowers’ champion

AML: UK Risk Management

HM Treasury publishes first money laundering and terrorist financing National Risk Assessment (NRA)