Industry fury over UK Treasury stance on guidance notes

London -- Financial services firms and executives from other industries are furious over the UK Treasury’s proposed treatment of guidance notes for anti-money laundering legislation, according to several industry sources.

Under the new regulations introduced by the UK Treasury at the end of 2003, a wide variety of industries are required to implement AML frameworks, including casinos, jewellers, and pawnbrokers.

As a result, several industry groups are developing guidance notes to help firms within their industry implement the new rules, and most are seeking UK Treasury approval for the documentation – a court must take into account industry guidance if it has been approved by a Treasury minister.

The UK Treasury

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Want to know what’s included in our free membership? Click here

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here