On 25 July 2014, the Joint Money Laundering Steering Group (“JMLSG”) published proposed amendments to its Money Laundering Guidance for the Financial Sector. The JMLSG is made up of financial industry trade associations and aims to assist in the interpretation of anti-money laundering requirements. The proposals do not include any specific changes as a result of the proposed Fourth Money Laundering Directive (which is still going through the EU legislative process). Responses to the consultation are due by 15 September 2014.
The consultation information is available at: http://www.jmlsg.org.uk/news/proposed-amendments-to-jmlsg-guidance.