On 15 September 2020, there was published on legislation.gov.uk:
- The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020. This statutory instrument amends the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 to implement amendments made by Fifth Anti-Money Laundering Directive (5AMLD). The main changes are made to transpose provisions introduced by the 5AMLD concerning the UK’s register of express trusts. In particular, expanding the scope of the register, and requiring that information on the register is made available in certain circumstances to those with a legitimate interest. The other changes concern correspondent banking, reporting of discrepancies in beneficial ownership information, customer due diligence on publicly listed companies, the use of confidential information, registration deadlines for some firms and directions to crypto-asset businesses.
- Draft of The Consumer Protection (Enforcement) (Amendment etc.) (EU Exit) Regulations 2020. This draft statutory instrument amends the Consumer Protection (Enforcement) (Amendment etc) (EU Exit) Regulations 2019 which deal with the collective redress regime for consumer protection. The draft statutory instrument also amends other EU Exit Regulations in the consumer protection area, in connection with the Northern Ireland Protocol and replaces references to “exit day” with “IP completion day”.