Treasury makes MLR 2017 and JMLSG finalises guidance

Treasury has published the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, which were laid before Parliament late on 22 June to come into force to meet MLD4 deadlines, on 26 June.

JMLSG has also published the finalised updates to its guidance, which it now needs to submit to Treasury for endorsement.  It commented that it received many responses to its consultation, but given the time pressure to implement MLD4 it has focussed on making changes directly related to this for the time being, and will conduct a more substantive revision exercise later this year.