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JMLSG revises Parts II and III of its risk-based Guidance in line with proposed new Regulations

JMLSG revises Parts II and III of its risk-based Guidance in line with proposed new Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations

The Joint Money Laundering Steering Group (JMLSG) today publishes proposed revisions to Parts II and III of its guidance on the prevention of money laundering and the financing of terrorism for the UK financial services industry. The proposed revisions reflect the provisions of the proposed new Money Laundering Regulations published by HM Treasury on 15 March 2017.

The proposed revisions are also believed to be consistent with the Risk Factor Guidelines which are to be issued by the European Supervisory Authorities. The final text of these Guidelines has not been published, but the JMLSG text reflects what was proposed in the ESA Consultation version published in October 2015, with some anticipation of possible changes that the ESAs will make.

 
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