AML/CTF supervision reform: duties, powers and accountability – Law Society response banner

AML/CTF supervision reform: duties, powers and accountability – Law Society response

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The Law Society are urging members to oppose the UK government’s hasty decision to give the Financial Conduct Authority responsibility for anti-money laundering (AML) and counter-terrorism financing (CTF) supervision of legal service providers. Their response to the government’s rushed consultation rejects proposals to allow supervisors access to Suspicious Activity Reports (SARs) and calls for practitioner-led guidance to continue.

The consultation closes soon – please consider their response, and consider submitting your own response: