Tag Archives: SAR

Treasury publishes AML supervision report

Treasury has published its AML and CTF supervision report for 2015-2017. It notes the two most critical legislative developments during the period as the CFA and MLRs 2017, and notes the strengthened supervision that OPBAS will bring. The report shows many successes, such as non-compliance levels in no more than 5% of entities reviewed, with […]

More of CFA to take effect

The third commencement order made under the Criminal Finances Act 2017 brings into force from 31 October the provisions enabling certain entities within the regulated sector to share information relating to suspicions, and provide a joint SAR to the NCA under POCA or the Terrorism Act.

CFA moratorium provisions to take effect

The second commencement order for the Criminal Finances Act 2017 brings into force several new provisions, including those on the potential extension of the moratorium period following a SAR and the new procedure for allowing regulated sector entities to share information on suspicions.  These parts of the Act take effect from 31 October 2017.

FCA consults further on CASS 7A changes

FCA is consulting on changes to CASS chapter 7A and, in particular, on proposed changes affecting the return of client assets.  The consultation follows Treasury’s proposals on changes to the Special Administration Regime for investment firms. Among the key proposed changes are: amendments to allow certain transfers of the client money pool (CMP) not permitted […]