On 26 October 2021, the Association for Financial Markets in Europe (AFME) published two Consultation Responses (CR) in response to two publications that the HM Treasury released.
The AFME is the European member of the Global Financial Markets Association (GFMA) a global alliance with the Securities Industry and Financial Markets Association (SIFMA) in the US, and the Asia Securities Industry and Financial Markets Association (ASIFMA) in Asia. They represent a range of European and global participants in the wholesale financial markets. Members include, pan-EU and global banks alongside regional banks, brokers law firms and investors.
The first CR titled, HMT Call for Evidence: Review of the UK’s AML/CFT regulatory and supervisory regime (dated 21 October 2021), is composed of 51 questions. The AFME response can be viewed here.
Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Statutory Instrument 2022 (dated 21 October 2021) is the second CR published by the AFME which sets out 63 questions. The AFME response can be viewed here.