Ethics and governance in the European Financial centers

The FSA provides information on the new responsibilities under the Money Laundering Regulations 2007. These Regulations will bring the Third EU Money Laundering Directive into effect in the UK. It must be implemented by all EU member states by 15 December 2007.


See FSA's page

The Law Society issued early September a practice note on anti-money laundering and counter-terrorist financing. It aims to assist solicitors in good practice and compliance with the Proceeds of Crime Act 2002, Terrorism Act 2000 and Money Laundering Regulations 2007.

They are seeking approval of the practice note from HM Treasury, so have issued a consultation running until 3 October 2007. Stakeholders are invited to comment on the practice note, particularly those parts implementing the risk-based approach and responding to changes brought about by the Money Laundering Regulations 2007

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Letter to senior partners

Consultation paper

The Financial Services Authority's (FSA) new framework for recognising Industry Guidance comes into effect last Tuesday - an important step in the move towards Principles-Based Regulation.

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