UK Government response to Law Commission review of the SARs regime

FinCEN proposes new AML rule for Investment Adviser sector
Consumer Duty gidance published by FCA

The UK Government has published its responses to the recent Law Commission review of the UK Suspicious Activity Reporting (SARs) regime.

The Law Commission reviewed limited aspects of the AML regime in Part 7 of the Proceeds of Crime Act 2002 (POCA) and the CTF regime in Part 3 of the Terrorism Act 2000, considering potential reforms of the voluntary disclosures system, or the “consent regime”.

Firms can review the Government responses to the Law Society’s 19 legislative and non-legislative recommendations published in 2019, in advance of any potential future regulatory reform.

https://www.gov.uk/government/publications/response-to-law-commission-review-of-the-sars-regime/response-to-law-commission-review-of-the-sars-regime

Share with: