Anti-money laundering supervisory review
Consultation on the impact and drafting of regulations intended to improve oversight of the anti-money laundering supervisory regime.
In its response to the call for information on the AML supervisory regime, the government sought further views on its proposals to improve oversight of the regime, in particular the creation of a new Office for Professional Body AML Supervision, hosted by the Financial Conduct Authority (FCA), to help and ensure the 22 professional body AML supervisors provide effective and consistent standards of supervision.
This document summarises the responses received and sets out the government’s response following the call for further information, and is accompanied by a consultation stage impact assessment and draft regulations.
The government would welcome views on the costs and benefits of the Office for Professional Body AML Supervision, and whether the draft regulations deliver on the government’s stated aims.