Regulatory Alerts2017-06-09
CP17/13: Fourth Money Laundering Directive and Fund Transfer Regulation Implementation
The Financial Conduct Authority proposes amendments to its Decision Procedure and Penalties manual and Enforcement Guide to align with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. These changes establish the FCA's enforcement toolkit, including powers to impose financial penalties, censure, suspend authorizations, and prohibit officers for breaches of anti-money laundering and counter-terrorist financing requirements. The consultation seeks feedback on applying existing penalty policies and decision-making procedures to these new regulatory obligations by 7 July 2017.
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