Emma RadmoreThe Financial Services Bill has now completed its journey through the House of Commons and now moves to the House of Lords.
Among the key changes now being debated are extensions to penalties for financial crime-related offences. The maximum sentence for insider dealing offences and the maximum sentence for financial services offences will go up from 7 years to 10 years’ imprisonment on indictment, in relation to offences that take place after the change comes into force.
In relation to AML, e-money and payments institutions come within the scope of the provisions in POCA on threshold amounts.
